EMI Calculator

Total interest paid = (EMI × n) − P

An EMI calculator online is the first tool you should use before taking any loan — home loan, car loan, personal loan, or education loan. It computes your Equated Monthly Installment instantly based on the loan amount, annual interest rate, and tenure. Knowing your EMI upfront helps you plan your monthly budget, compare loan offers from different banks, and decide on an affordable tenure.

Our free EMI calculator India also shows you the total interest you will pay over the loan tenure — a number that is often shocking. For example, a ₹50 lakh home loan at 9% for 20 years has an EMI of ₹44,986, but you pay ₹57.97 lakh in interest — more than the loan itself! The amortization chart shows exactly how much of each EMI goes toward principal versus interest, helping you understand why prepaying early saves the most money.

As of 2026, home loan rates in India range from 8.35% to 9.5% (SBI, HDFC, ICICI, Axis). Even a 0.25% rate difference on a ₹50 lakh 20-year loan saves over ₹1.5 lakh in total interest. Use this loan EMI calculator to compare multiple scenarios side by side before signing any loan agreement.