EMI Calculator
Calculate monthly loan installments
Quick loan amounts:
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How EMI Calculation Works
1Enter loan amount (₹)
2Enter annual interest rate (%)
3Select loan tenure (years/months)
4Get EMI, total interest, and total payment
EMI = P × r × (1+r)^n ÷ ((1+r)^n - 1)
Where P = Principal, r = Monthly rate, n = Months
Current Loan Interest Rates (2025)
🏠 Home Loan8.40% - 9.50%
🚗 Car Loan8.70% - 11.50%
👤 Personal Loan10.50% - 18%
📚 Education Loan8.50% - 13%
💰 Gold Loan7.50% - 12%
Why Use This EMI Calculator
- 100% Private - No data stored
- Instant EMI calculation
- Works on all devices
- Completely free
- Compare different loan scenarios
- Prepayment planning insights
EMI Examples for Reference
₹50L @8.5% for 20 yrsEMI: ₹43,391
₹30L @9% for 15 yrsEMI: ₹30,425
₹10L @10% for 5 yrsEMI: ₹21,247
₹5L @12% for 3 yrsEMI: ₹16,607
Frequently Asked Questions
What is the EMI formula?
EMI = P × r × (1+r)^n ÷ ((1+r)^n - 1), where P = Principal, r = monthly interest rate (annual ÷ 12 ÷ 100), n = number of months.
How does tenure affect EMI?
Longer tenure = lower EMI but much higher total interest. ₹50L at 8.5%: 15 years EMI ₹49,000 (total interest ₹38L), 20 years EMI ₹43,000 (total interest ₹54L), 25 years EMI ₹40,000 (total interest ₹70L).
What is floating vs fixed interest rate?
Floating rate changes with market (currently 8.5%). Fixed rate stays constant (9.5-10%). Floating saves when rates fall, increases when rates rise.
How much EMI can I afford?
Banks allow EMI up to 40-50% of monthly income. For ₹1L salary, max EMI ₹40,000-50,000. Use this calculator to find loan amount you can afford.
Does prepayment help?
Yes! One extra EMI per year reduces 20-year loan by 3-4 years and saves ₹8-10 lakhs interest. Early prepayments save maximum interest.