Loans
EMI calculator for home, car and personal loans
Calculate the monthly EMI, total interest and total amount payable on a home loan, car loan or personal loan.
How it works
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly instalments.
Questions people ask
How does an RBI rate hike affect my EMI?
Most floating-rate home loans are linked to the repo rate. When the RBI raises it, your bank raises your rate at the next reset, usually within three months, and either your EMI or your tenure goes up.
Should I prepay my loan?
Prepaying early in the loan saves the most interest because that is when most of each EMI goes to interest. Floating-rate home loans taken by individuals carry no prepayment penalty.
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Results are estimates for planning only and are not financial or tax advice.