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EMI Calculator for Home Loan, Car Loan & Personal Loan in India

Loan Period

Interest Rate

%

TOTAL PAYMENT

₹ 57,90,240

TOTAL INTEREST PAYABLE

₹ 32,90,240

EMI PAYABLE

₹ 24,126

EMI for different time durations

DurationLoan AmountEMI PAYABLE
3 Yrs25,00,00080,668
5 Yrs25,00,00053,118
7 Yrs25,00,00041,503
10 Yrs25,00,00033,038
15 Yrs25,00,00026,865
20 Yrs25,00,00024,126
25 Yrs25,00,00022,718
28 Yrs25,00,00022,199
30 Yrs25,00,00021,939

What is EMI?

An equated monthly installment (EMI) is a fixed payment amount made by you (borrower) to a bank (lender) each month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

Loan EMI Calculator Formula

P is the principal loan amount, A is the EMI, r is the interest rate calculated on monthly basis, and n is the loan tenure or duration in number of months

How to use the EMI Calculator

This EMI calculator helps you calculate the EMI payable for home loan, personal loan and car loans. You can enter the loan amount, interest rate & the tenure (period of time within which loan will be repaid) and the calculator will calculate the EMI for that tenure.

Factors Affecting loan EMI

There are 3 factors that affect the loan EMI, principal loan amount, loan repayment tenure and the monthly interest rate. The change in any of these can change the EMI amount. Provided the interest rate remains the same, the EMI is lesser for longer loan repayment tenure and vice versa.The monthly EMI is higher for higher loan amount and interest rate.

At Upwardly, we believe that if your Home Loan, Car Loan or Personal Loan interest rate is high, then you must prepay those first before investing.

Fixed Deposit interest rates are always lower than Interest rate on Loans. Additionally, the interest income from FD is also taxable at a rate as per your Income Slab (For example Tax Rate is 30% for a person with Annual Income greater than Rs 10 Lakhs).