EMI Calculator Online - Home Loan, Car Loan, Personal Loan
About EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, personal loans, and education loans with our free online EMI Calculator. Know your exact monthly payment, total interest payable, and total loan repayment amount. Compare different loan options by adjusting interest rates and loan tenure to find the best deal.
How to Use This Tool
Enter Loan Amount
Input the total loan amount you wish to borrow from the bank or lender.
Set Interest Rate
Enter the annual interest rate offered by your bank (e.g., 8.5% for home loans, 10% for car loans).
Choose Loan Tenure
Select the loan repayment period in years (typically 1-30 years for home loans, 1-7 years for car loans).
View Results
Instantly see your monthly EMI, total interest, and total repayment amount with a visual breakdown chart.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay to the bank every month to repay your loan. It includes both principal and interest components.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = Principal, R = Monthly Interest Rate, N = Number of Months.
Which loan has the lowest EMI?
Home loans typically have the lowest EMI due to longer tenure (up to 30 years) and lower interest rates (7-9%). Personal loans have higher EMI due to shorter tenure and higher rates.
Can I reduce my EMI?
Yes! You can reduce EMI by: (1) Choosing a longer tenure, (2) Making a larger down payment, (3) Negotiating for a lower interest rate, or (4) Making prepayments.
Key Features
- •Calculate EMI for Home Loan, Car Loan, Personal Loan
- •Multi-Currency Support (INR, USD, EUR, GBP, etc.)
- •Visual Principal vs Interest Breakdown
- •Adjustable Sliders for Easy Input
- •Instant Real-time Calculation
- •Compare Different Loan Options
Why EMI Calculator Matters
Our EMI calculator helps you plan your loan repayment before applying for credit. Compare home loan EMI, car loan EMI, or personal loan EMI across different banks. Make informed decisions about loan tenure and interest rates. Essential for budgeting and financial planning. 100% free, no registration required.