🇮🇳 India 🔥 Most popular Last tested2026-05-13
EMI Calculator made simple.
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Quick answer
A ₹25 lakh home loan at 8.5% p.a. over 20 years = an EMI of about ₹21,696/month. Total payable: ₹52 lakh. Total interest: ₹27 lakh.
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LiveEMI Calculator
₹
₹25.00 L
%
Monthly EMI
₹21,696
/month
Total Interest
₹27.07 L
52% of total
Total Payable
₹52.07 L
over 20 years
Principal vs Interest Split
48% principal
52% interest
✨ Live · For home, personal, auto, education loans · Excludes processing fees
📖 How to use
3 steps. 0 confusion.
1
Enter loan amount (₹) — home, auto, personal, anything
2
Enter the annual interest rate (p.a.)
3
Choose tenure in years (or use 10y/20y/30y quick pick)
🧮 The math
The EMI formula, decoded.
The formula
EMI = [P × r × (1+r)n] / [(1+r)n − 1]
- EMI = monthly installment
- P = principal (loan amount)
- r = monthly rate (annual rate ÷ 12 ÷ 100)
- n = tenure in months (years × 12)
❓ FAQ
Common questions.
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay your lender every month for a loan. It includes both principal repayment and interest. Indian banks standardize loan repayments around the EMI structure.
How is EMI calculated?
EMI = [P × r × (1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual ÷ 12), and n is the tenure in months. This is the same formula RBI-regulated banks use.
Does this work for home, auto, and personal loans?
Yes — the EMI math is identical across loan types. Only the typical rate range differs: home (8–10% p.a.), auto (8–12%), personal (10–18%), education (8–12%).
Does it include processing fees?
No — this shows pure interest + principal. Indian banks typically charge a 0.25–2% processing fee upfront. Ask your lender for the effective APR which folds those in.
Can I reduce my EMI?
Three ways: (1) negotiate a lower rate (especially if MCLR/repo rate has dropped), (2) extend the tenure (lowers EMI but raises total interest), (3) part-prepayment (allowed without penalty on most floating-rate loans).
Tax benefits on home loans?
Under Indian Income Tax Act, you can claim up to ₹1.5 lakh deduction on principal repayment (Section 80C) and ₹2 lakh on interest (Section 24b) for a self-occupied property. Consult a CA for your specific case.
🏦 By bank
Bank-specific EMI calculators.
See current rates, processing fees, and prepayment policies for each bank.