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EMI Calculator
Home Loan · Car Loan · Personal Loan · Education Loan
₹50K₹25,00,000₹1Cr
5%8.5%30%
1 yr20 years30 yr
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❓ Frequently Asked Questions
What is EMI? ▾
EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay a loan. Each EMI has two parts — interest and principal. Over time, the interest part decreases and principal increases.
How is EMI calculated? ▾
EMI = P × r × (1+r)^n ÷ [(1+r)^n – 1], where P = loan amount, r = monthly interest rate (annual ÷ 12 ÷ 100), n = total months. Our calculator does this instantly.
What is the current home loan rate in India 2026? ▾
Home loan rates in 2026 range from about 8.35% to 10.5% per year. SBI, HDFC, and ICICI offer competitive rates. Your actual rate depends on credit score and bank policy.
Does paying extra EMI reduce loan tenure? ▾
Yes. Prepayments reduce your principal balance, which reduces either the EMI or tenure. Reducing tenure saves more total interest.
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