EMI Calculator — Calculate Your Loan Monthly Payment
Calculate EMI for home loan, car loan, or personal loan. Enter loan amount, interest rate, and tenure to get your monthly EMI and total interest payable.
Loan Details
EMI / Mo
Principal
Interest
Monthly EMI₹26,035
Principal Amount₹30.00 L
Total Interest₹32.48 L
Total Payable
₹62.48 L
Frequently Asked Questions
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan. Each EMI contains two components: the principal repayment and the interest charged on the outstanding balance.
EMI = P × r × (1 + r)^n / ((1 + r)^n – 1), where P is principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is number of months.
For a ₹30 lakh home loan at 8.5% for 20 years, the EMI is approximately ₹26,000/month. Total interest paid over 20 years would be approximately ₹33 lakhs — more than the principal.
You can reduce EMI by: (1) making a larger down payment, (2) choosing a longer tenure, (3) negotiating a lower interest rate, or (4) making prepayments to reduce principal.
Missing an EMI incurs a penalty (typically 1–2% of EMI amount), affects your credit score, and may lead to loan default proceedings if multiple EMIs are missed. Always contact your lender before missing a payment.
Home loan interest rates in India range from 8.25% to 9.5% p.a. (as of 2025), depending on the lender, borrower's credit profile, and loan amount. SBI, HDFC, and ICICI offer competitive rates for salaried individuals.