How to Use the Loan Calculator
- Enter your loan details. Type the loan amount, annual interest rate, and tenure. Select whether the tenure is in years or months.
- Click "Calculate EMI" to compute your monthly installment, total payment, and total interest over the loan period.
- Review the results. See a summary of key figures, a pie chart showing the principal-to-interest ratio, and a full month-by-month amortization schedule.
How EMI Is Calculated
EMI (Equated Monthly Installment) uses a standard formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly installments.
The amortization schedule shows how each EMI payment is split between principal repayment and interest. In the early months, a larger portion goes toward interest. As the outstanding balance decreases with each payment, the interest component shrinks and the principal component grows.
Common Use Cases
- Home loan planning - Compare EMI amounts for different loan amounts and tenures before applying for a mortgage.
- Car loan comparison - Evaluate monthly payments for different vehicle prices and interest rates from various lenders.
- Personal loan budgeting - Determine if a personal loan EMI fits within your monthly budget before committing.
- Prepayment analysis - Use the amortization schedule to see how much interest you can save by making extra payments.
Tips for Borrowers
- A lower interest rate saves significantly more than a shorter tenure. Even a 0.5% reduction can save thousands over a long loan.
- Making one extra EMI payment per year can reduce your loan tenure by several months and save substantial interest.
- Check if your lender charges a prepayment penalty before making lump-sum payments toward the principal.
Current Average Interest Rates in India (2026)
Indicative interest rates offered by major Indian banks and financial institutions:
| Loan Type |
Interest Rate Range |
Typical Tenure |
Max LTV Ratio |
| Home Loan | 8.25% - 9.50% | 10-30 years | Up to 90% |
| Car Loan (New) | 8.50% - 11.00% | 3-7 years | Up to 100% |
| Car Loan (Used) | 10.00% - 14.00% | 3-5 years | Up to 80% |
| Personal Loan | 10.50% - 18.00% | 1-5 years | Unsecured |
| Education Loan | 8.50% - 13.00% | 5-15 years | Up to 100% |
| Gold Loan | 7.00% - 12.00% | 6 months-3 years | Up to 75% |
| Business Loan | 11.00% - 18.00% | 1-5 years | Varies |
Rates are indicative and vary by bank, credit score, loan amount, and borrower profile. Updated as of 2026.
EMI Per Lakh (Rs. 1,00,000)
Monthly EMI for a Rs. 1 lakh loan at various interest rates and tenures:
| Rate |
5 Years |
10 Years |
15 Years |
20 Years |
25 Years |
30 Years |
| 7.0% | Rs. 1,980 | Rs. 1,161 | Rs. 899 | Rs. 775 | Rs. 707 | Rs. 665 |
| 7.5% | Rs. 2,004 | Rs. 1,187 | Rs. 927 | Rs. 806 | Rs. 739 | Rs. 699 |
| 8.0% | Rs. 2,028 | Rs. 1,213 | Rs. 956 | Rs. 836 | Rs. 772 | Rs. 734 |
| 8.5% | Rs. 2,052 | Rs. 1,240 | Rs. 985 | Rs. 868 | Rs. 806 | Rs. 769 |
| 9.0% | Rs. 2,076 | Rs. 1,267 | Rs. 1,014 | Rs. 900 | Rs. 839 | Rs. 805 |
| 9.5% | Rs. 2,100 | Rs. 1,294 | Rs. 1,044 | Rs. 932 | Rs. 874 | Rs. 841 |
| 10.0% | Rs. 2,125 | Rs. 1,322 | Rs. 1,075 | Rs. 965 | Rs. 909 | Rs. 878 |
| 11.0% | Rs. 2,174 | Rs. 1,378 | Rs. 1,137 | Rs. 1,032 | Rs. 980 | Rs. 952 |
| 12.0% | Rs. 2,224 | Rs. 1,435 | Rs. 1,200 | Rs. 1,101 | Rs. 1,053 | Rs. 1,029 |
| 13.0% | Rs. 2,275 | Rs. 1,493 | Rs. 1,265 | Rs. 1,172 | Rs. 1,128 | Rs. 1,107 |
| 14.0% | Rs. 2,327 | Rs. 1,553 | Rs. 1,332 | Rs. 1,243 | Rs. 1,204 | Rs. 1,185 |
| 15.0% | Rs. 2,379 | Rs. 1,613 | Rs. 1,399 | Rs. 1,317 | Rs. 1,281 | Rs. 1,264 |
Total Interest Paid Comparison
How interest rate affects total cost for a Rs. 10,00,000 home loan over 20 years:
| Interest Rate |
Monthly EMI |
Total Payment |
Total Interest |
Interest as % of Principal |
| 7.0% | Rs. 7,753 | Rs. 18,60,720 | Rs. 8,60,720 | 86% |
| 8.0% | Rs. 8,364 | Rs. 20,07,360 | Rs. 10,07,360 | 101% |
| 9.0% | Rs. 8,995 | Rs. 21,58,800 | Rs. 11,58,800 | 116% |
| 10.0% | Rs. 9,650 | Rs. 23,16,000 | Rs. 13,16,000 | 132% |
| 11.0% | Rs. 10,322 | Rs. 24,77,280 | Rs. 14,77,280 | 148% |
| 12.0% | Rs. 11,011 | Rs. 26,42,640 | Rs. 16,42,640 | 164% |
Even a 1% rate reduction on a Rs. 10 lakh loan saves Rs. 1.5-3.3 lakh in total interest over 20 years.
Principal vs. Interest Breakdown
For a typical home loan at 9% over 20 years, here is how your total payment is split:
Principal: Rs. 10,00,000 (46%)
Interest: Rs. 11,58,800 (54%)
Total Paid: Rs. 21,58,800
At 9%, you pay more in interest than the original loan amount. Shorter tenure = less interest.