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🏦 EMI Calculator — Monthly Loan Installment Calculator

Calculate your exact EMI for Home Loan, Business Loan, Personal Loan, or Car Loan. View complete amortization schedule. 100% free, 100% accurate.

🧮 EMI Calculator

Enter your loan details to calculate monthly installment

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First Year Amortization Schedule

MonthEMIPrincipalInterestBalance

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EMI Calculation Formula

EMI = P × [r(1+r)^n] / [(1+r)^n – 1]

Where: P = Principal Loan Amount | r = Monthly Interest Rate (Annual Rate / 12 / 100) | n = Loan Tenure in Months

Current Loan Interest Rates in India (2024-25)

Loan TypeInterest Rate (p.a.)Max TenureBest For
Home Loan8.35% – 10.05%30 yearsProperty Purchase
Business Loan10.5% – 20%5 yearsBusiness Growth
Personal Loan10.5% – 24%5 yearsPersonal Expenses
Car Loan8.7% – 12%7 yearsVehicle Purchase
Education Loan8% – 15%15 yearsHigher Education
Mudra Loan8% – 12%5 yearsMSME / Small Business

EMI Calculator FAQ

For fixed-rate loans, EMI remains constant throughout the tenure. For floating rate loans, EMI may change when the benchmark rate (MCLR or Repo Rate) changes. Most home loans are floating rate, while personal and car loans can be either fixed or floating.
Missing EMI attracts late payment charges (typically 2-3% on overdue amount), negatively impacts your CIBIL score, and may trigger penal interest. Consistent EMI misses can lead to loan default classification and legal action by the lender.
Yes — either by making a partial prepayment (reducing principal, which reduces future EMI or tenure) or by refinancing/balance transfer to a lender offering lower interest rates.