Free tool · Rules updated 28 Sep 2026
Loan EMI Calculator — Home, Car & Personal Loans
Enter the loan amount, the yearly interest rate and the tenure. The calculator shows your monthly EMI, the total interest and the total amount you will repay, using the standard reducing-balance formula banks use.
Fill in the details — your result appears here instantly.
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Loan EMI Calculator — common questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Does a longer tenure reduce my cost?
A longer tenure lowers the EMI but increases the total interest you pay. Part-prepayments early in the loan save the most interest.
Is home loan interest tax-deductible?
Under the old regime, interest on a self-occupied home loan is deductible up to ₹2 lakh a year (Section 24(b)) and principal within the ₹1.5 lakh Section 80C limit. Use the home loan tax benefit calculator to see your saving.
This tool gives an estimate based on the rules shown. Your actual tax depends on your full details — our expert confirms the final figure before filing.
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