EMI Calculator
Calculate loan EMI for Home, Car & Personal Loans
Loan Details
Your Monthly EMI
₹43,391
Principal vs Interest
Year-wise Payment Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4.21 L | ₹49.00 L |
| 2 | ₹1.08 L | ₹4.12 L | ₹47.92 L |
| 3 | ₹1.18 L | ₹4.03 L | ₹46.74 L |
| 4 | ₹1.28 L | ₹3.92 L | ₹45.46 L |
| 5 | ₹1.40 L | ₹3.81 L | ₹44.06 L |
| 6 | ₹1.52 L | ₹3.69 L | ₹42.54 L |
| 7 | ₹1.65 L | ₹3.55 L | ₹40.89 L |
| 8 | ₹1.80 L | ₹3.41 L | ₹39.09 L |
| 9 | ₹1.96 L | ₹3.25 L | ₹37.13 L |
| 10 | ₹2.13 L | ₹3.07 L | ₹35.00 L |
| ... 10 more years | |||
Frequently Asked Questions
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n – 1), where P is Principal, r is monthly interest rate, and n is number of months. Our calculator does this automatically for you.
Three factors affect EMI: (1) Loan amount - higher amount means higher EMI, (2) Interest rate - higher rate increases EMI, (3) Tenure - longer tenure reduces EMI but increases total interest paid.
Shorter tenure means higher EMI but less total interest. Longer tenure means lower EMI but more total interest. Choose based on your monthly budget. For home loans, 15-20 years is common; for car loans, 3-5 years.
Home loan interest rates in India typically range from 8.5% to 10% depending on the bank and your credit score. SBI, HDFC, ICICI offer rates starting around 8.5% for salaried individuals with good credit.
Yes, prepaying your loan reduces the principal and total interest. Most banks allow prepayment without penalty for floating rate loans. Even small prepayments can significantly reduce your interest burden over time.