Calculate your monthly loan EMI — home, car, personal or any loan
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Our EMI Calculator helps you calculate the monthly loan instalment for home loans, car loans, personal loans, and education loans. Enter the loan amount, interest rate, and tenure to instantly see your EMI, total interest, and full payment schedule.
EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P = Principal loan amount, r = Monthly interest rate, n = Number of monthly instalments.
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount paid every month to repay a loan. Each EMI consists of a principal component and an interest component.
What is the EMI for ₹10 lakh home loan at 8.5% for 20 years?
For a ₹10,00,000 loan at 8.5% per annum for 20 years, the EMI would be approximately ₹8,678 per month. You can use our calculator above to calculate for your specific loan details.
How can I reduce my EMI?
You can reduce your EMI by increasing the loan tenure, making a larger down payment, negotiating a lower interest rate, or making prepayments to reduce the outstanding principal.