Calculate monthly loan payments, total interest and repayment cost. Compare loan scenarios using your own lender’s interest rate.
For principal P, monthly rate r and n monthly payments, EMI = P × r × (1+r)^n / ((1+r)^n − 1). We divide the annual percentage rate by 12 and 100 to get r. At a 0% rate, EMI is P/n. This assumes equal monthly payments and a constant interest rate.
A ₹10 lakh loan at 8.5% a year for 10 years has an estimated EMI of ₹12,399. Total repayment is about ₹14.88 lakh, including roughly ₹4.88 lakh interest. Rounding and the lender’s payment dates can change the final amount.
Enter the same loan amount and term for each offer. A lower EMI can reflect a longer loan rather than a lower cost. Compare total interest, processing charges, insurance requirements and any prepayment restrictions alongside the displayed monthly payment.
The estimate excludes fees, late charges, broken-period interest, taxes and changes in floating interest rates. The extra-payment illustration assumes immediate principal reduction. Your lender’s amortisation schedule and contractual terms govern actual repayments.
Use a household budget to compare the EMI with essential spending and existing debts. Test a higher rate and a shorter term to see the sensitivity. This tool supports planning; it does not assess eligibility or recommend a lender.
EMI Calculator · SIP Calculator · FD Calculator · PPF Calculator · Step-Up SIP · All calculators
Educational estimates. Results exclude taxes and individual exceptions unless stated. Inputs remain in your browser.