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EMI Calculator India
Calculate monthly EMI for home loan, car loan and personal loan. Includes amortization schedule and prepayment savings calculator.
Home Loan
Car Loan
Personal
🏠 EMI Calculator FREE
Loan Amount ₹50,00,000
₹
Annual Interest Rate % 8.5%
Loan Tenure 20 years
Monthly EMI
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Principal
—
Total Interest
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Total Payment
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💡 Interest as % of principal: —. Tip: Making partial prepayments in the first 5 years saves the most interest.
| Year | Annual Payment | Principal (₹) | Interest (₹) | Balance (₹) |
|---|
🚀 Prepayment Savings Simulator
Extra Monthly Payment
₹
Months Saved
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Interest Saved
—
New Tenure
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📈 Growing wealth while paying EMI?
Use our SIP calculator to plan parallel investments
Calculations are based on reducing balance method. Actual EMI may vary based on bank processing fees, GST, insurance, and other charges. Not financial advice.
EMI Calculator — Home Loan, Car Loan & Personal Loan
An EMI (Equated Monthly Instalment) calculator helps you calculate the fixed monthly payment for any loan — home loan, car loan, personal loan, or education loan. The EMI formula ensures you pay equal amounts every month covering both principal and interest.
EMI = P × r × (1+r)^n / [(1+r)^n - 1]
Where: P = Principal, r = Monthly Rate = Annual Rate ÷ 12, n = Tenure in months
Where: P = Principal, r = Monthly Rate = Annual Rate ÷ 12, n = Tenure in months
Home Loan EMI — Current Bank Rates (2025-26)
| Bank | Rate (p.a.) | EMI per ₹10L (20yr) |
|---|---|---|
| SBI Home Loan | 8.50% | ₹8,678 |
| HDFC Bank | 8.75% | ₹8,837 |
| ICICI Bank | 8.75% | ₹8,837 |
| Kotak Bank | 8.70% | ₹8,805 |
Frequently Asked Questions
What is the EMI for ₹20 lakh home loan for 20 years?
At 8.5% interest rate (SBI current rate), the EMI for a ₹20 lakh home loan for 20 years is approximately ₹17,356/month. Total interest paid over 20 years would be ₹21.65 lakh — more than the principal itself. Use our calculator above to check different rates and tenures.
How can I reduce my home loan EMI?
Four ways: (1) Make partial prepayments — even ₹10,000 extra per year can save lakhs. (2) Increase tenure to lower EMI (but pay more interest overall). (3) Balance transfer to a lower-rate lender. (4) Negotiate with your bank for a rate reduction. Use the prepayment simulator above to see the exact savings.
What is the maximum EMI I can afford?
Most banks follow the 40–50% FOIR (Fixed Obligation to Income Ratio) rule — your total EMIs should not exceed 40–50% of your monthly net income. So if you earn ₹80,000/month, your maximum EMI capacity is ₹32,000–40,000. This includes all existing EMIs (car loan, personal loan, etc.).