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Calculate monthly EMI, total interest & amortization for any loan — home, car, or personal.
Monthly EMI
₹26,035
240 monthly instalments
Principal
₹30.00 L
48.0% of total
Total Interest
₹32.48 L
52.0% of total
Total Payable
₹62.48 L
An EMI (Equated Monthly Instalment) is the fixed amount you pay to your lender every month until the loan is fully repaid. It consists of two components — the principal (the borrowed amount) and the interest charged on it. As you repay, the principal portion increases while the interest component decreases.
The EMI formula is: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
Where P = principal, r = monthly rate (annual rate ÷ 12 ÷ 100), n = total months.
| Loan Type | Typical Rate (p.a.) | Max Tenure |
|---|---|---|
| Home Loan | 8.25% – 9.75% | 30 years |
| Car Loan | 8.5% – 11% | 7 years |
| Personal Loan | 10.5% – 24% | 5 years |
| Education Loan | 9% – 13% | 15 years |
| Gold Loan | 7% – 18% | 3 years |
For a ₹30 lakh home loan at 8.5% p.a. for 20 years, the monthly EMI is approximately ₹26,035. The total amount payable is ~₹62.5 lakh, of which ₹32.5 lakh is interest. Use the calculator above to see the exact figure for your loan amount.
Most banks in India apply prepayments toward reducing the principal outstanding. This reduces the remaining tenure while keeping the EMI the same. Some banks offer both options — confirm with your lender. Reducing tenure is generally more beneficial as it saves more total interest.
Yes. Under the Old Tax Regime, you can claim: (1) up to ₹1.5 lakh deduction on principal repayment under Section 80C, and (2) up to ₹2 lakh deduction on interest paid under Section 24(b). These deductions are not available under the New Tax Regime.
India's most comprehensive free EMI Calculator. Instantly compute your monthly instalment for Home Loans (SBI, HDFC, ICICI), Car Loans, Personal Loans, and Education Loans. See a complete year-wise amortization breakdown, total interest outgo, and principal vs interest split — all without any sign-up. The EMI formula (P×r×(1+r)^n / ((1+r)^n−1)) is transparently shown. Everything runs in your browser — no data is sent anywhere.
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