EMI Calculator: Home, Car and Personal Loan EMI

Find your monthly loan EMI, the total interest you will pay, and a month-wise repayment schedule.

₹10,00,000

Monthly EMI₹8,678

Principal
₹10,00,000
Total interest
₹10,82,776
Total payment
₹20,82,776

For a loan of ₹10,00,000 at 8.5% for 20 years, your EMI is ₹8,678. You will pay ₹10,82,776 as interest over 240 months.

This is an estimate. Your lender's figures may differ slightly.
Not included: processing fees, insurance and prepayment charges.

Add a prepayment

₹0

For example, 12 = after the first year's EMIs.

After the prepayment

Enter a prepayment amount to see how much interest you save.

Some loans charge a prepayment fee; check your loan agreement.

Show repayment schedule
Year / monthEMI paidInterestPrincipalBalance

What this calculator does

It works out the fixed monthly instalment (EMI) for a loan, the total interest you pay over the full tenure, and how each EMI is split between interest and principal. You can also see what a one-time prepayment does to your loan.

How to use it

  1. Enter the loan amount: the amount you borrow, not the price of the house or car.
  2. Enter the interest rate per year, as given in your loan offer.
  3. Enter the tenure in years, or switch to months.
  4. Read your monthly EMI, total interest and total payment. They update as you type.
  5. Optional: tap Show repayment schedule for a year-wise and month-wise table, or Add a prepayment to see the interest you can save.

Example

A home loan of ₹25,00,000 at 8.5% a year for 20 years (240 months):

These match the SBI Home Loan EMI calculator (checked on 07-10-2026). Over 20 years the interest (about ₹27 lakh) is more than the loan itself, which is why tenure matters so much.

How one EMI splits: for ₹10,00,000 at 9% for 10 years, the EMI is ₹12,668. In month 1, interest is ₹10,00,000 × 9% ÷ 12 = ₹7,500, so only ₹5,168 goes to principal. Each month the balance falls a little, so the interest part shrinks and the principal part grows.

Formula

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

If the rate is 0%, EMI = P ÷ n.

About rounding: the EMI is shown rounded to the nearest rupee, but the totals use the exact EMI, as bank calculators do. So EMI × months can differ from the total payment by a few rupees, up to half a rupee for every month of the loan. In the example above, the exact EMI is ₹21,695.58. The displayed ₹21,696 × 240 = ₹52,07,040, but the exact total is ₹52,06,939, which is ₹101 less. The table cells are also rounded one by one, so a column may not add up to the headline total by ₹1–2.

Rules and limits

These limits are set by RozTools for this calculator; they are not bank or RBI rules.

Common mistakes

Disclaimer

This is an estimate for general information, not financial advice. Your lender’s figures may differ slightly. Please confirm the EMI and charges in your loan offer or Key Facts Statement before you decide.

Frequently asked questions

How is EMI calculated?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r is the yearly interest rate divided by 12 and by 100, and n is the number of months. At 0% interest, EMI is simply the loan amount divided by the number of months.

Can I use this for a home loan, car loan and personal loan?

Yes, for any loan with a fixed EMI where interest is charged on the outstanding balance each month (reducing balance). If your loan offer quotes a "flat" interest rate, this calculator will not match it. Ask your lender which method they use.

Will my bank's EMI match this calculator?

It should match to the rupee for a standard monthly reducing-balance loan. We checked six loans against the SBI, HDFC Bank and ICICI Bank calculators on 07-10-2026, and the EMI, total interest and total payment matched exactly. Your lender may still differ slightly because of fees, insurance or a different interest method.

Can I enter the loan tenure in months?

Yes. Use the Years / Months toggle under the tenure box. Tenure can be from 1 month to 360 months (30 years).

How do I see the month-wise repayment schedule?

Tap "Show repayment schedule" below the result. You see one row per year; tap a year to see each month: EMI paid, interest, principal and the balance left.

How does a prepayment change my loan?

Tap "Add a prepayment", enter the amount and after which EMI you pay it. Choose "Reduce tenure" to keep the same EMI and finish earlier, or "Reduce EMI" to keep the same end date and pay a smaller EMI. The calculator shows the interest you save. Some loans charge a prepayment fee; check your loan agreement.

What about the down payment?

Enter only the amount you borrow. For example, if a car costs ₹8,00,000 and you pay ₹2,00,000 as down payment, enter ₹6,00,000 as the loan amount.

Does the EMI change if the interest rate changes?

This calculator assumes the rate stays the same for the whole tenure. On a floating-rate loan, your lender may change the EMI or the tenure when rates change. Recalculate with the new rate and your current outstanding balance.

Sources

Last verified on

This is an estimate for general information, not financial or tax advice. Please confirm with the official source before you act.