💰 Finance Calculator
EMI Calculator — Home, Car & Personal Loan
Calculate your monthly EMI (Equated Monthly Instalment) for any loan. Works for home loan, car loan, personal loan, and education loan.
Monthly EMI
₹0
₹0
Total Amount Payable
₹0
Total Interest
₹0
Principal Amount
0%
Interest / Principal %
Principal0%
📋 Amortization Schedule (Yearly Summary)
| Year | Principal Paid | Interest Paid | Balance |
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⚠️ Disclaimer: This calculator provides estimates only.
Actual EMI may vary based on your lender's policies and processing fees. Read full disclaimer
What is EMI?
EMI (Equated Monthly Instalment) is a fixed monthly payment made by a borrower to a lender on a set date each month. EMIs are used to repay both the principal loan amount and the interest charged on it in equal monthly installments over the loan tenure.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where: P = Principal, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Number of monthly installments
Frequently Asked Questions
What is a good EMI to salary ratio in India?
Financial experts recommend keeping your total EMI at no more than 40-50% of your
monthly take-home salary. Banks in India typically allow up to 50-60% of net income as maximum
EMI eligibility.
Can I prepay my loan to reduce EMI?
Yes! Most Indian banks allow partial prepayment of loans which can either reduce
your EMI amount or reduce the tenure. Check with your bank for prepayment charges (usually nil
for floating rate loans under RBI guidelines).
What is the current home loan interest rate in India (2025)?
Home loan interest rates in India currently range from about 8.35% to 9.50% per
annum depending on the lender, your credit score (CIBIL), and loan amount. Use our calculator to
try different rates.