Loan EMI Calculator: Calculate EMI & Interest Amount Loan
Fast personal loan EMI calculator with interest rate, tenure breakdown.
Loan EMI Summary
Use our free Loan EMI Calculator to calculate your exact monthly installment for Personal Loan, Home Loan, Car Loan, Bike Loan, Business Loan, and Education Loan before applying at any bank in India. Enter your loan amount, interest rate, and tenure to get instant results on any device.
Popular Tools
What is EMI and How is It Calculated?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay to your bank or lender every month until your loan is fully repaid. Each EMI has two parts: a portion that reduces your principal and a portion that covers the interest on the outstanding balance. In early months, more goes toward interest. As you keep paying, the principal share increases. This structure is called an amortization schedule.
EMI Calculation Formula
All banks in India use the reducing balance EMI formula:
EMI = P × R × (1 + R)N / [(1 + R)N - 1]
- P = Principal loan amount
- R = Monthly interest rate (Annual rate ÷ 12 ÷ 100). Example: 12% annual = 0.01 monthly
- N = Loan tenure in months
Example: ₹5,00,000 loan at 12% for 48 months gives EMI of approximately ₹13,168/month. Total repayment = ₹6,32,064. Total interest = ₹1,32,064. Use the calculator above to get exact figures for your loan.
Flat Rate vs Reducing Balance EMI
Banks offer two methods of interest calculation. In the flat rate method, interest is charged on the original principal throughout the tenure, making the effective rate much higher than advertised. In the reducing balance method (used by most banks), interest is charged only on the outstanding principal, which reduces every month as you pay EMIs. Our reducing balance EMI calculator helps you compare the actual cost of both methods before you borrow.
Is This EMI Calculator Accurate?
Yes. Our loan EMI calculator uses the same standard reducing balance formula used by SBI, HDFC, ICICI, Axis Bank, and all RBI-regulated lenders in India. Results match bank-generated repayment schedules. The calculator runs entirely in your browser, no data is stored or shared. For floating rate loans, your actual EMI may change if the RBI repo rate changes during your tenure.
How to Use This Loan EMI Calculator
Our online EMI calculator works for all loan types including personal loan, home loan, car loan, bike loan, business loan, and education loan. It takes under 30 seconds.
- Select your loan type from the dropdown
- Enter the loan amount using the slider or type directly
- Enter the annual interest rate offered by your bank or NBFC
- Enter the repayment tenure in years
- Results update instantly: monthly EMI, total interest, and total repayment amount
After calculating, check the loan eligibility calculator to know how much loan you qualify for based on your income and credit profile.
Why Use an Online EMI Calculator Before Applying?
Calculating EMI manually using the formula is time-consuming and error-prone. Our free online monthly EMI calculator gives instant results and shows you the complete picture: exact monthly installment, total interest payable, total repayment amount, and a visual principal vs interest breakup. You can test multiple combinations of loan amount, rate, and tenure in seconds to find the most comfortable EMI for your monthly budget before visiting any bank.
Personal Loan EMI Calculator
Personal loans are unsecured loans available from banks and NBFCs with interest rates ranging from 10% to 24% per annum and tenures from 6 months to 72 months. Because there is no collateral, lenders charge higher rates than home or car loans. Our personal loan EMI calculator helps you check exactly how much you will pay every month before signing the loan agreement.
Personal Loan EMI for Different Amounts
At 14% annual interest (indicative). Enter your exact rate in the calculator above for precise results.
| Loan Amount | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹20,000 | 12 months | ₹1,796 | ₹1,552 | ₹21,552 |
| ₹30,000 | 12 months | ₹2,693 | ₹2,316 | ₹32,316 |
| ₹50,000 | 24 months | ₹2,402 | ₹7,648 | ₹57,648 |
| ₹1,00,000 | 36 months | ₹3,418 | ₹23,048 | ₹1,23,048 |
| ₹3,00,000 | 48 months | ₹8,176 | ₹92,448 | ₹3,92,448 |
| ₹5,00,000 | 60 months | ₹11,634 | ₹1,98,040 | ₹6,98,040 |
Personal Loan EMI Calculator for 6 Months
A 6-month personal loan means higher monthly EMI but much lower total interest paid. This suits borrowers who need quick short-term funds and want to close the loan fast. At 14% interest: ₹20,000 for 6 months gives EMI of ₹3,487/month with total interest of only ₹922. ₹50,000 for 6 months gives EMI of ₹8,718/month. Use the calculator above for your exact figures.
SBI Personal Loan EMI Calculator
SBI personal loans start from around 11.15% per annum with tenures up to 72 months and loan amounts up to ₹20 lakh. At 11.15% interest, indicative EMIs are: ₹1 lakh for 12 months gives ₹8,838/month, ₹3 lakh for 36 months gives ₹9,839/month, ₹5 lakh for 60 months gives ₹10,873/month. Enter SBI's current rate in our calculator for exact results.
HDFC Personal Loan EMI Calculator
HDFC Bank offers personal loans starting from 10.50% per annum with quick disbursal for salaried individuals. Tenures range from 12 to 60 months. At 10.50%, a ₹2 lakh loan for 24 months gives an EMI of approximately ₹9,298/month. A ₹5 lakh loan for 48 months gives approximately ₹12,835/month. Enter your HDFC offer rate in the calculator above for the exact monthly installment.
ICICI Personal Loan EMI Calculator
ICICI Bank personal loans are available at interest rates starting from 10.65% per annum for salaried employees. Loan amounts go up to ₹50 lakh with tenures of 12 to 72 months. At 10.65%, a ₹3 lakh loan for 36 months gives an EMI of approximately ₹9,767/month. Use our calculator with ICICI's current rate to see your exact repayment schedule.
Home Loan EMI Calculator
Home loans carry the lowest interest rates among all loan types in India, ranging from 8.50% to 10.50% per annum as of 2025, with tenures up to 30 years (360 months). Even a small difference in interest rate or tenure can save or cost lakhs of rupees over the full repayment period. Our home loan EMI calculator lets you compare tenures and rates from SBI, HDFC, LIC Housing, and other lenders before you apply.
Home Loan EMI for Different Amounts
At 8.75% annual interest (indicative). Actual EMI depends on your lender's rate.
| Loan Amount | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹20 lakh | 10 years | ₹25,065 | ₹10,07,800 | ₹30,07,800 |
| ₹30 lakh | 15 years | ₹29,933 | ₹23,87,940 | ₹53,87,940 |
| ₹50 lakh | 20 years | ₹44,209 | ₹56,10,160 | ₹1,06,10,160 |
| ₹75 lakh | 25 years | ₹61,536 | ₹1,09,60,800 | ₹1,84,60,800 |
A longer tenure reduces monthly EMI but increases total interest significantly. Use our calculator to find the right balance.
SBI Home Loan EMI Calculator
SBI home loan interest rates start from 8.50% per annum for eligible borrowers in 2025. SBI offers up to 30-year tenure with no prepayment penalty on floating rate loans. At 8.50%, a ₹40 lakh home loan for 20 years gives an EMI of approximately ₹34,770/month with total interest of approximately ₹43,44,800. Enter your SBI loan offer in the calculator above to see the exact repayment schedule.
How to Reduce Your Home Loan EMI
There are three proven ways to lower your home loan EMI. First, negotiate a lower interest rate by improving your CIBIL score above 750 before applying. Second, increase your down payment to reduce the principal amount borrowed. Third, choose a longer tenure such as 25 or 30 years to lower the monthly installment, but be aware that total interest paid increases. Making partial prepayments whenever you receive a bonus or surplus income directly reduces your outstanding principal and can cut years off your tenure.
Car Loan EMI Calculator
Car loans in India carry interest rates between 7% and 15% per annum depending on the lender, your credit score, and whether the car is new or used. Tenures range from 12 to 84 months. Banks like HDFC, SBI, Axis Bank, and ICICI offer competitive car loan rates. Our car loan EMI calculator helps you decide the right tenure before visiting a dealer or applying online.
Car Loan EMI for Different Amounts
At 9% annual interest (indicative). For used car loans, rates are typically 1% to 3% higher.
| Loan Amount | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹3 lakh | 36 months | ₹9,540 | ₹43,440 | ₹3,43,440 |
| ₹5 lakh | 48 months | ₹12,443 | ₹97,264 | ₹5,97,264 |
| ₹8 lakh | 60 months | ₹16,607 | ₹1,96,420 | ₹9,96,420 |
| ₹12 lakh | 72 months | ₹21,714 | ₹3,63,408 | ₹15,63,408 |
Used Car Loan EMI Calculator
Used car loans carry interest rates of 10% to 18% per annum depending on the vehicle age, condition, and your credit profile. Tenures are generally limited to 60 months for used cars. At 13% interest, a ₹4 lakh used car loan for 48 months gives an EMI of approximately ₹10,760/month. Always check the on-road price and total loan cost before finalising.
Bike Loan EMI Calculator
Two-wheeler loans or bike loans are available at interest rates ranging from 7% to 18% per annum with tenures from 12 to 48 months. Banks like HDFC, Bajaj Finance, Hero FinCorp, and TVS Credit offer instant bike loans for both new and used two-wheelers. Our bike loan EMI calculator helps you check the monthly installment before buying your bike or scooter.
Bike Loan EMI for Different Amounts
At 12% annual interest (indicative). Shorter tenure saves significantly on interest for small two-wheeler loans.
| Loan Amount | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹60,000 | 12 months | ₹5,331 | ₹3,972 | ₹63,972 |
| ₹80,000 | 24 months | ₹3,767 | ₹10,408 | ₹90,408 |
| ₹1,20,000 | 36 months | ₹3,986 | ₹23,496 | ₹1,43,496 |
| ₹1,50,000 | 48 months | ₹3,950 | ₹39,600 | ₹1,89,600 |
Bajaj Finance Bike Loan EMI Calculator
Bajaj Finance is one of the most popular two-wheeler loan providers in India, offering bike loans at interest rates starting from around 9% per annum with minimal documentation. At 9% interest, a ₹1 lakh bike loan for 24 months gives an EMI of approximately ₹4,568/month. Bajaj Finance also offers EMI options at the dealership level for most major bike brands including Hero, Honda, Bajaj, and TVS.
Business Loan EMI Calculator
Business loans are available for MSMEs, self-employed professionals, and small business owners at interest rates between 11% and 24% per annum depending on the lender, business vintage, turnover, and credit score. Tenures range from 12 to 60 months. Banks like SBI, HDFC, Axis Bank, and NBFCs like Bajaj Finance and Lendingkart offer unsecured business loans with fast disbursal. Our business loan EMI calculator helps you plan repayment before applying.
Business Loan EMI for Different Amounts
At 15% annual interest (indicative). Rates vary by lender, business vintage, and credit profile.
| Loan Amount | Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹2 lakh | 12 months | ₹18,066 | ₹16,792 | ₹2,16,792 |
| ₹5 lakh | 24 months | ₹24,244 | ₹81,856 | ₹5,81,856 |
| ₹10 lakh | 36 months | ₹34,665 | ₹2,47,940 | ₹12,47,940 |
| ₹25 lakh | 48 months | ₹69,486 | ₹8,35,328 | ₹33,35,328 |
MSME Business Loan EMI Calculator
Under the Pradhan Mantri Mudra Yojana (PMMY), small business owners can get Mudra loans up to ₹10 lakh at concessional rates. Shishu loans up to ₹50,000, Kishore loans from ₹50,000 to ₹5 lakh, and Tarun loans from ₹5 lakh to ₹10 lakh are available through public sector banks and MFIs. For larger MSME loans above ₹10 lakh, interest rates typically range from 11% to 16% depending on your credit rating and collateral.
Education Loan EMI Calculator
Education loans are available for courses in India and abroad at interest rates between 8% and 15% per annum. Repayment typically starts after a moratorium period that lasts for the course duration plus 6 to 12 months. Public sector banks like SBI, Bank of Baroda, and Canara Bank offer the lowest rates, especially under government-backed schemes. Use our education loan EMI calculator to plan your repayment before your moratorium ends.
Education Loan EMI for Different Amounts
At 10% annual interest, after moratorium period (indicative). SBI, Bank of Baroda, and Canara Bank offer the lowest rates under government-backed schemes.
| Loan Amount | Repayment Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|---|
| ₹3 lakh | 60 months | ₹6,374 | ₹82,440 | ₹3,82,440 |
| ₹7 lakh | 84 months | ₹11,246 | ₹2,44,664 | ₹9,44,664 |
| ₹15 lakh | 120 months | ₹19,822 | ₹8,78,640 | ₹23,78,640 |
| ₹30 lakh | 120 months | ₹39,645 | ₹17,57,400 | ₹47,57,400 |
Factors That Affect Your Monthly EMI
Understanding what controls your EMI helps you borrow smarter. Three variables determine your monthly installment: the principal amount, the interest rate, and the loan tenure. Changing any one of these changes your EMI significantly.
Loan Amount
The higher the principal, the higher your monthly EMI. A good rule for all borrowers: keep your total monthly EMIs across all loans below 40% to 50% of your net monthly income. If your take-home salary is ₹40,000/month, total EMIs should not exceed ₹16,000 to ₹20,000. Use the loan eligibility calculator to find the maximum loan amount banks will approve based on your income.
Interest Rate
Even a 0.5% difference in interest rate creates a large impact over a long tenure. On a ₹30 lakh home loan for 20 years, a rate drop from 9% to 8.5% saves approximately ₹1,000 per month and over ₹2.4 lakh in total interest. Always compare rates from at least 3 to 4 lenders before finalising. For floating rate loans, your EMI may change when the RBI revises the repo rate.
Loan Tenure
A longer tenure lowers your monthly EMI but increases total interest paid. A shorter tenure means higher EMI but lower overall cost. For example, a ₹10 lakh personal loan at 13% interest for 36 months gives EMI of ₹33,699/month and total interest of ₹2,13,164. The same loan for 60 months gives EMI of ₹22,753/month but total interest of ₹3,65,180. The 5-year option costs ₹1.52 lakh more in interest. Choose tenure based on your monthly cashflow, not just the EMI amount.
How to Reduce Your EMI
There are four practical ways to reduce your loan EMI. Negotiate a lower interest rate by maintaining a CIBIL score above 750 before applying. Make a higher down payment to reduce the principal borrowed. Opt for a longer tenure to spread payments over more months, but only if total interest cost is acceptable. Transfer your existing high-rate loan to a lower-rate lender using a balance transfer. Our reducing balance EMI calculator helps you compare the savings before switching lenders.
What Happens If You Miss an EMI?
Missing an EMI has serious consequences. First, the bank charges a late payment penalty of 1% to 2% per month on the overdue amount. Second, the missed EMI is reported to CIBIL, which lowers your credit score. A single missed EMI can drop your score by 50 to 100 points. Third, if you miss 3 or more consecutive EMIs, the bank may classify your loan as a Non-Performing Asset (NPA) and initiate recovery proceedings. If you anticipate difficulty, contact your lender immediately to explore restructuring or moratorium options before missing a payment.
Tips for Managing Loan EMIs
Set up an auto-debit mandate so EMIs are deducted automatically on the due date, eliminating the risk of missed payments. Make part-prepayments whenever you receive a bonus, increment, or windfall. Even one extra EMI per year on a home loan can reduce your tenure by 12 to 18 months. Avoid taking multiple loans simultaneously as combined EMIs can strain your monthly cashflow. If interest rates fall after a repo rate cut, ask your lender to reduce your EMI or tenure accordingly.
EMI Calculator for Common Loan Amounts
₹20,000 Loan EMI Calculator
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 6 months | ₹3,487 | ₹922 | ₹20,922 |
| 12 months | ₹1,796 | ₹1,552 | ₹21,552 |
| 24 months | ₹961 | ₹3,064 | ₹23,064 |
₹30,000 Loan EMI Calculator
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 6 months | ₹5,231 | ₹1,386 | ₹31,386 |
| 12 months | ₹2,693 | ₹2,316 | ₹32,316 |
| 24 months | ₹1,441 | ₹4,584 | ₹34,584 |
| 36 months | ₹1,025 | ₹6,900 | ₹36,900 |
₹50,000 Loan EMI Calculator
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 6 months | ₹8,718 | ₹1,308 | ₹51,308 |
| 12 months | ₹4,489 | ₹3,868 | ₹53,868 |
| 24 months | ₹2,401 | ₹7,624 | ₹57,624 |
| 36 months | ₹1,709 | ₹11,524 | ₹61,524 |
₹1 Lakh Loan EMI Calculator
At 13% annual interest:
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 12 months | ₹8,932 | ₹7,184 | ₹1,07,184 |
| 24 months | ₹4,763 | ₹14,312 | ₹1,14,312 |
| 36 months | ₹3,369 | ₹21,284 | ₹1,21,284 |
| 48 months | ₹2,687 | ₹28,976 | ₹1,28,976 |
₹5 Lakh Loan EMI Calculator
At 13% annual interest:
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 24 months | ₹23,815 | ₹71,560 | ₹5,71,560 |
| 36 months | ₹16,847 | ₹1,06,492 | ₹6,06,492 |
| 48 months | ₹13,435 | ₹1,44,880 | ₹6,44,880 |
| 60 months | ₹11,377 | ₹1,82,620 | ₹6,82,620 |
₹10 Lakh Loan EMI Calculator
At 10% annual interest:
| Tenure | Monthly EMI | Total Interest | Total Payable |
|---|---|---|---|
| 36 months | ₹32,267 | ₹1,61,612 | ₹11,61,612 |
| 60 months | ₹21,247 | ₹2,74,820 | ₹12,74,820 |
| 84 months | ₹16,601 | ₹3,94,484 | ₹13,94,484 |
| 120 months | ₹13,215 | ₹5,85,800 | ₹15,85,800 |
Loan EMI Calculator FAQs
What is the EMI for a ₹10 lakh personal loan for 5 years?
At 13% annual interest, the EMI for a ₹10 lakh personal loan for 60 months is approximately ₹22,753/month. Total interest payable is approximately ₹3,65,180. Use the calculator above with your lender's exact rate for accurate results.
Which loan has the lowest EMI: home loan, car loan, or personal loan?
Home loans have the lowest EMI per lakh borrowed because they carry the lowest interest rates (8.5% to 10.5%) and the longest tenures (up to 30 years). Personal loans have the highest EMI per lakh due to higher rates (10% to 24%) and shorter tenures (up to 6 years). Car loans fall in between.
Does increasing tenure reduce EMI?
Yes, a longer tenure lowers your monthly EMI. But it also increases the total interest paid over the loan life. Always balance a comfortable EMI with the total interest cost using our calculator before deciding your tenure.
What is the EMI for a ₹30,000 loan for 12 months?
At 14% annual interest, the EMI for a ₹30,000 loan for 12 months is approximately ₹2,693/month. Total repayment is ₹32,316 and total interest is ₹2,316. Use the calculator above with your lender's actual rate for exact figures.
Can I use this calculator for bike loan EMI?
Yes. Enter your bike loan amount, the interest rate offered by your lender (typically 7% to 18% per annum), and the tenure in years. The calculator will instantly show your monthly installment, total interest, and total repayment amount for any two-wheeler loan.
What happens if I prepay my loan?
Prepaying reduces your outstanding principal, which directly lowers the total interest you pay. For floating rate loans, banks cannot charge a prepayment penalty as per RBI guidelines. For fixed rate loans, a penalty of 1% to 4% may apply. Even a single extra EMI per year on a home loan can reduce your tenure by over a year.
Conclusion
Our free Loan EMI Calculator covers all major loan types including personal loan, home loan, car loan, bike loan, business loan, and education loan. Enter your loan amount, interest rate, and tenure to instantly see your monthly EMI, total interest, and complete repayment amount. Always calculate your EMI before signing any loan agreement. Knowing your exact monthly obligation in advance is the smartest step toward responsible borrowing and stress-free repayment.
