EMI Calculator — Free, Instant, No Login
Calculate home loan, car loan, or personal loan EMI. Reverse EMI, amortization table, prepayment savings, and loan comparison — all in one place.
Monthly EMI
₹4,339
for 20 years @ 8.5% p.a.
Principal Amount
₹5.00L
Total Interest
₹5.41L
Total Payment
₹10.41L
Principal vs Interest Split
Year-by-Year Amortization
| Year | Opening Balance | Principal | Interest | Closing Balance |
|---|---|---|---|---|
| 1 | ₹5.00L | ₹9,951 | ₹42,118 | ₹4.90L |
| 2 | ₹5.01L | ₹10,831 | ₹41,239 | ₹4.79L |
| 3 | ₹4.91L | ₹11,788 | ₹40,281 | ₹4.67L |
| 4 | ₹4.80L | ₹12,830 | ₹39,239 | ₹4.55L |
| 5 | ₹4.69L | ₹13,964 | ₹38,105 | ₹4.41L |
| 6 | ₹4.56L | ₹15,198 | ₹36,871 | ₹4.25L |
| 7 | ₹4.42L | ₹16,542 | ₹35,528 | ₹4.09L |
| 8 | ₹4.27L | ₹18,004 | ₹34,065 | ₹3.91L |
| 9 | ₹4.10L | ₹19,595 | ₹32,474 | ₹3.71L |
| 10 | ₹3.93L | ₹21,327 | ₹30,742 | ₹3.50L |
| 11 | ₹3.73L | ₹23,213 | ₹28,857 | ₹3.27L |
| 12 | ₹3.52L | ₹25,264 | ₹26,805 | ₹3.01L |
| 13 | ₹3.29L | ₹27,497 | ₹24,572 | ₹2.74L |
| 14 | ₹3.04L | ₹29,928 | ₹22,141 | ₹2.44L |
| 15 | ₹2.77L | ₹32,573 | ₹19,496 | ₹2.11L |
| 16 | ₹2.47L | ₹35,452 | ₹16,617 | ₹1.76L |
| 17 | ₹2.15L | ₹38,586 | ₹13,483 | ₹1.37L |
| 18 | ₹1.79L | ₹41,997 | ₹10,073 | ₹95,458 |
| 19 | ₹1.41L | ₹45,709 | ₹6,360 | ₹49,749 |
| 20 | ₹99,498 | ₹49,749 | ₹2,320 | ₹0 |
Latest Loan Rate News
SBI cuts home loan rate to 8.50% for salaried borrowers after RBI repo rate cut
Economic Times ↗
HDFC Bank home loan rates now start at 8.75% — fixed vs floating comparison
Mint ↗
Best car loan rates May 2026: SBI at 8.85%, ICICI at 9.10%, Axis at 9.25%
BankBazaar ↗
RBI keeps repo rate at 6.00% — personal loan rates likely to ease in Q2 2026
Economic Times ↗
RBI MPC meeting April 2026: Repo rate held at 6%, stance remains accommodative
RBI ↗
About This Tool
More than just an EMI calculator
Most EMI calculators only show the monthly payment. This one goes further — see the full amortization schedule year by year, understand how prepayment saves you interest, and compare two loan offers side by side before you sign.
The Reverse EMI tab is unique — instead of asking "what's my EMI?", it asks "how much can I borrow with my budget?" Enter your monthly budget and tenure, and get the maximum loan you can afford.
Any Loan Type
Home, car, personal, business, education — same formula, any loan.
Reverse EMI
Know your budget? Find the max loan you can afford.
Amortization Table
Year-by-year principal vs interest breakdown.
Prepayment Savings
See how extra payments reduce interest and shorten your loan.
Loan Comparison
Compare two loans to find which costs less.
Live Rate News
Weekly-updated loan rate news for India, USA, and global markets.
Quick Start
How to Calculate EMI
Enter Loan Details
Principal amount, annual interest rate, and loan tenure in years.
View Results Instantly
Monthly EMI, total interest, total payment, and principal/interest split appear immediately.
Check Amortization
Scroll down for year-by-year breakdown of principal, interest, and closing balance.
Compare or Reverse
Switch tabs to compare two loan offers or find your maximum borrowing capacity.
Use Cases
Who Uses This Calculator
Home Buyers
Calculate affordability before visiting a bank. Know your EMI before the offer.
Car Buyers
Compare dealer financing vs bank loan to find the cheaper option.
Small Business Owners
Evaluate business loan options and plan cash flow with the amortization schedule.
Students & Parents
Plan education loan repayment. Use reverse EMI to size the loan to post-graduation salary.
Existing Borrowers
See how prepaying ₹5,000/month saves ₹3L in interest and closes your loan 2 years early.
Finance Learners
Understand how EMI, amortization, and interest compounding actually work.
FAQ
Frequently Asked Questions
What is the EMI formula?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly interest rate (annual ÷ 12 ÷ 100), n = tenure in months. All calculations use this exact formula.
What is a reverse EMI calculator?
You enter your monthly budget, rate, and tenure — it tells you the maximum loan you can afford. Great for planning before visiting a lender.
How does prepayment affect EMI?
Extra monthly payments reduce principal faster. This saves significant interest over the loan term and closes the loan earlier. The calculator shows exact savings.
What is an amortization schedule?
A year-by-year breakdown of principal vs interest paid and the remaining balance. Early years are interest-heavy; later years are principal-heavy.
What home loan rate is good in India (2026)?
Home loans start around 8.50% p.a. for salaried borrowers. Check the news section on this page for the latest rates from SBI, HDFC, ICICI.
Can I compare two loan options?
Yes. Switch to 'Compare Loans' tab, enter details for Loan A and B, and see which costs less in EMI, total interest, and total payment.
Is this calculator free?
Yes. Completely free, no sign-up, no data stored. Calculations run entirely in your browser.
Does it work for home loan, car loan, and personal loan?
Yes. The EMI formula is identical for all loan types. Just change the principal, rate, and tenure.