Calculate monthly EMI for home loan, car loan and personal loan instantly. View full amortization schedule and apply directly with leading banks.
Loan details
Loan amount₹30,00,000
₹50K₹1 Cr
Interest rate (p.a.)8.5 %
5%24%
Loan tenure20 yrs
1 yr30 yrs
Apply for home loan
💡 Rates are indicative. Actual rate depends on credit score & bank policy. Compare before applying.
EMI result
Monthly EMI
₹0
for 240 months · Total: ₹0
Interest
0%
Principal₹0
Total interest₹0
Total payable₹0
#
EMI
Principal
Interest
Balance
EMI formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1) | P = Principal, r = Monthly rate, n = Months
↓
Lower rate = lower EMI
↑
Longer tenure = lower EMI
750+
CIBIL for best rates
EMI Calculator — FAQs
What is EMI? +
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay your loan. Each EMI includes both principal repayment and interest. In the early months, most of the EMI goes toward interest; this ratio shifts toward principal over time.
What is a good home loan interest rate in India? +
As of 2025, home loan rates in India range from 8.50% to 9.5% p.a. SBI and LIC Housing Finance typically offer the lowest rates. A CIBIL score above 750 gets you the best rates. Use the "Apply" buttons above to compare bank offers directly.
Should I choose a longer or shorter loan tenure? +
Longer tenure reduces your monthly EMI but significantly increases total interest paid. For example, a ₹30L loan at 8.5% for 20 years pays ₹33L interest, while for 10 years it pays only ₹15L interest. Shorter tenure saves more money if you can afford the higher monthly payment.
What is an amortization schedule? +
An amortization schedule shows the month-by-month breakdown of your EMI — how much goes toward principal and how much toward interest each month. Click "View amortization schedule" above to see your full schedule.
How does prepayment help? +
Prepaying your loan reduces the outstanding principal directly. Banks typically either reduce your tenure (keeping EMI same) or reduce your EMI (keeping tenure same). Reducing tenure saves significantly more interest overall — even one extra EMI per year makes a big difference.
EMI Calculator — Everything You Need to Know
An EMI (Equated Monthly Instalment) is a fixed monthly payment you make to repay a loan over a set period. Each payment includes both the principal repayment and the interest component. Our EMI calculator uses the standard RBI-approved formula to compute your exact monthly outflow.
EMI Formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
Where: P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12 ÷ 100), n = Total number of monthly instalments (years × 12)
Current Home Loan Interest Rates (2025)
Bank
Interest Rate
Processing Fee
Max Tenure
SBI
8.50% p.a.
0.35%
30 years
LIC Housing Finance
8.50% p.a.
Nil to 0.25%
30 years
HDFC Bank
8.70% p.a.
0.5%
30 years
ICICI Bank
8.75% p.a.
0.5%
30 years
Axis Bank
8.75% p.a.
1%
30 years
*Rates are indicative and subject to change. Actual rate depends on credit score, income and bank policy. Verify before applying.
Tips to Lower Your EMI
Maintain a CIBIL score above 750 — banks offer their lowest rates to high-score applicants
Choose a longer tenure (20–30 years) to reduce monthly EMI, though total interest paid increases
Make a larger down payment (20–30%) to reduce the principal and hence EMI
Consider part-prepayment when you receive a bonus — most home loans allow this without penalties
Compare rates across multiple banks — even 0.25% difference on ₹50L saves over ₹1L over 20 years