Plan your loan in seconds. See your monthly EMI, total interest and a full year-wise repayment schedule for home, car or personal loans.
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Loan EMI Calculator
Loan type
₹
%
yrs
Monthly EMI
₹0
- Principal ₹0
- Total interest ₹0
- Total payment ₹0
Year-wise repayment schedule
| Year | Principal | Interest | Balance |
|---|
EMI formula
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Tips to reduce your EMI burden
- Make a larger down payment to borrow less
- Compare lenders — even 0.5% lower rate saves lakhs on a home loan
- Prepay part of the principal whenever you get a bonus
- Choose a shorter tenure if you can afford it — total interest drops sharply
Frequently asked questions
Does a longer tenure reduce interest?
No. A longer tenure lowers your EMI but increases the total interest you pay. Use the slider to see the difference.
Is this EMI exact?
It is accurate for a standard reducing-balance loan. Your bank’s figure may differ slightly due to processing fees, insurance or rounding.
Can I claim tax benefits on a home loan?
Under the old regime, principal repayment counts under 80C (up to ₹1.5 lakh) and interest on a self-occupied home under Section 24(b) (up to ₹2 lakh).
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