EMI Calculator (India) — Home, Personal & Car Loan
Calculate your monthly EMI in seconds—across Home, Personal, and Car loans. Enter amount, rate, and tenure to see a clean dashboard (EMI, Total Interest, Total Payment), a full amortization schedule, and charts. For home loans, add prepayments to see months saved and interest saved. Car loan includes Advance vs Arrears. When you’re done, download Excel or print a PDF, and share a link that keeps your inputs.
EMI
Total Interest
Total Payment (P+I)
Repayment Schedule (expand a year to see months) Mode: Calendar
| Year | Principal (A) | Interest (B) | Total Payment (A+B) | Balance | Loan Paid To Date |
|---|
What is EMI?
An Equated Monthly Instalment (EMI) is a fixed monthly payment that repays your loan (principal + interest) over a chosen tenure. The amount stays constant; the interest portion is higher in early months and principal portion rises later.
How EMI is calculated (formula)
For monthly compounding: EMI=P×r×(1+r)n(1+r)n−1\text{EMI} = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}EMI=(1+r)n−1P×r×(1+r)n
where P = loan amount, r = monthly rate (annual % ÷ 12 ÷ 100), n = total months.
- Processing fee (₹ flat or %) is shown in Total Cost, separate from EMI.
- Rounding: EMI shown to the nearest rupee; the schedule keeps paise for accuracy.
Calendar vs Financial Year (Apr–Mar)
Use Schedule start to select your first EMI month and switch grouping:
- Financial year wise (Apr–Mar) for India tax/finance reporting.
- Calendar year wise (Jan–Dec) for standard reports.
Prepayment: how it changes outcomes
By default, this tool keeps EMI constant and reduces tenure when you add:
- a Monthly extra (added to every EMI), and/or
- an Annual lumpsum (one-time, at the month you pick).
You’ll see months saved and interest saved in the dashboard/table
Worked example (Home Loan)
Example settings: ₹50,00,000, 8.25%a p.a., 20 years (240 months), start Sep 2025.
- EMI ≈ ₹42,603
- Total interest ≈ ₹52.25 lakh
- Total payment (P+I) ≈ ₹1.02 crore
If you add ₹5,000/month as extra prepayment:
- Tenure drops to ≈187 months (~53 months saved)
- Total interest falls to ≈₹38.97 lakh (~₹13.28 lakh saved)
If you make a ₹1,00,000 lumpsum in month 12:
- Tenure drops to ≈230 months (~10 months saved)
- Interest saved ≈₹3.61 lakh
(Numbers are illustrative for the example above; your inputs will compute exact values)
Car loan: Advance vs Arrears
Most loans are arrears (first EMI one month after disbursal). Some car loans allow advance (first EMI at disbursal) which reduces principal immediately and trims interest slightly.
Example: ₹10,00,000, 9.25%, 5 years (60 months)
- Arrears: EMI ≈ ₹20,880; interest ≈ ₹2.53 lakh
- Advance: first EMI at disbursal; effective schedule ≈ 59 EMIs; interest ≈ ₹2.41 lakh (saves ~₹12k)
Processing fee & total cost
If your bank charges a processing fee (₹ flat or % of loan), add it in Processing fee. The tool shows Total Payment (P+I) and Total Cost (incl. fee) to help compare offers. (GST on fees may apply as per lender policy.)
How to use this (quick steps)
- Choose Home / Personal / Car tab.
- Enter Amount, Rate, Tenure (years + months).
- Pick Start month and set Calendar/FY grouping.
- (Optional) Add Processing fee; for home loans add Monthly extra or Annual lumpsum; for car loans choose Advance/Arrears.
- Review Dashboard, Charts, Monthly schedule and Year-wise roll-up.
- Download Excel or Print PDF; Copy link to share the exact scenario.
Assumptions & rounding
- Constant monthly EMI; monthly compounding; equal month intervals.
- No rate resets mid-schedule (for floating loans, use scenarios).
- Prepayments applied after interest portion in that month.
- Actual bank computations can differ due to day-count, reset cycles, moratoriums, and rounding.
Disclaimer: Educational tool only. Verify lender T&Cs, charges, and rate resets before decisions.
FAQs
What loans can I calculate with this EMI calculator?
Home, personal, and car loans. The tool supports prepayment (home) and advance vs arrears (car).
How do I switch between Calendar and Financial Year?
Use Schedule start to pick the first EMI month, then change Calendar/Financial Year wise in the dropdown. Tables & charts update instantly.
Does prepayment reduce EMI or tenure?
This tool keeps EMI constant and reduces tenure. Some banks also allow EMI reduction; check with your lender.
How accurate are the numbers?
The math is standard (monthly compounding). Minor differences may occur due to lender rounding, day-count, reset cycles, and fees.
What is “EMI in Advance” for car loans?
Your first EMI is paid at disbursal, reducing principal immediately and slightly reducing total interest compared to arrears.
Can I add both a monthly extra and a lumpsum?
Yes. Monthly extra applies every month; the lumpsum applies once on the month number you select.
Where do I see months saved and interest saved?
Check the Year-wise roll-up and the Monthly schedule; the shortened schedule reflects the reduced tenure and interest.
How do I include processing fees?
Select ₹ flat or % of loan in Processing fee. It’s added to Total Cost (separate from EMI).
Can I export my results?
Yes—click Download Excel for Summary/Monthly/Yearly sheets, or Print PDF for a print-styled report.
Can I share this scenario with someone?
Use Copy sharable link. The URL carries your inputs so others can open the exact case.
Does this tool store my data?
No. Calculations run in your browser. Sharing uses query parameters; remove them if you don’t want to share inputs.
Is GST included on processing fees?
The fee field is pre-GST for transparency. Actual GST depends on the lender; confirm on your sanction letter.