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EMI Calculator — Free Loan Instalment Calculator India 2026
Calculate your monthly EMI for home loan, car loan, business loan or personal loan instantly. See total interest, total payment, and principal vs interest breakdown.
What is EMI? EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to repay a loan. It covers both principal and interest. Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1] where P = loan amount, R = monthly rate, N = tenure in months.
Loan EMI Calculator
₹5 Lakh₹1 Cr
5%24%
1 Yr30 Yrs
📊 Your EMI Breakdown
Monthly EMI
₹37,166
per month for 20 years
Principal Amount₹50,00,000
Total Interest₹39,19,840
Total Payment
₹89,19,840
📊 EMI Table — ₹50 Lakh Home Loan at Different Rates & Tenures
Quick reference: monthly EMI for a ₹50 lakh home loan across common interest rates and tenures.
| Interest Rate | 10 Years | 15 Years | 20 Years | 25 Years | 30 Years |
|---|---|---|---|---|---|
| 7.5% | ₹59,356 | ₹46,351 | ₹40,280 | ₹36,982 | ₹34,994 |
| 8.5% | ₹61,993 | ₹49,237 | ₹43,391 | ₹40,260 | ₹38,446 |
| 9.0% | ₹63,338 | ₹50,713 | ₹44,986 | ₹41,960 | ₹40,231 |
| 9.5% | ₹64,697 | ₹52,211 | ₹46,607 | ₹43,694 | ₹42,054 |
| 10.0% | ₹66,075 | ₹53,730 | ₹48,251 | ₹45,435 | ₹43,879 |
* Highlighted row = most common home loan rate range in India (2026). Values are approximate.
📖 How to Use This EMI Calculator — Step by Step
Follow these 5 steps to calculate your exact monthly loan instalment:
- Select Your Loan TypeChoose Home Loan, Car Loan, Business Loan, or Personal Loan. Sliders auto-adjust to realistic ranges for each type.
- Set the Loan AmountDrag the slider to your loan amount. Home loans: ₹5L–₹1Cr. Car loans: ₹1L–₹20L. Business loans: ₹1L–₹50L.
- Enter the Interest RateSet the annual interest rate your bank or NBFC is offering. Try different rates to compare EMI impact.
- Choose Loan TenureLonger tenure = lower EMI, but higher total interest. Shorter tenure = higher EMI, but you save on interest.
- Read Your ResultsSee Monthly EMI, Total Interest, Total Payment, and a Principal vs Interest pie chart — all updated live.
✅ Benefits of This Calculator
⚡
Instant Results
EMI updates live as you drag sliders — no click needed.
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Compare Scenarios
Try different tenures and rates side-by-side instantly.
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Built for India
Rate ranges match SBI, HDFC, ICICI typical offerings.
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Visual Breakdown
Pie chart shows principal vs interest split clearly.
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100% Private
No data stored. Everything runs in your browser only.
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Budget Planning
Know your monthly commitment before you apply.
❓ EMI Calculator — Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan. It includes both the principal repayment and the interest on the outstanding balance. The EMI stays constant throughout the loan tenure under the reducing balance method used by all Indian banks.
How is EMI calculated? What is the 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 = Number of monthly instalments. Example: ₹30 lakh loan at 8.5% for 20 years → R = 8.5/12/100 = 0.00708, N = 240 → EMI = ₹26,035/month.
What is the EMI for a ₹20 lakh loan at 8.5% for 20 years?
For a ₹20 lakh loan at 8.5% interest for 20 years: Monthly EMI = ₹17,356. Total interest payable = ₹21.65 lakh. Total repayment = ₹41.65 lakh. Use the slider above to adjust these values for your exact loan amount and tenure.
Does a longer loan tenure reduce EMI?
Yes — a longer tenure lowers monthly EMI but increases total interest paid. Example for ₹50 lakh at 8.5%: 10 years → EMI ₹62,000, total interest ₹24.4L. 20 years → EMI ₹43,391, total interest ₹54.1L. 30 years → EMI ₹38,446, total interest ₹88.4L. Choose shorter tenure if you can afford it to save on interest.
What is a good EMI to income ratio in India?
The recommended EMI-to-income ratio in India is 40–50% of net monthly income. Most banks (SBI, HDFC, ICICI) approve loans where total EMIs do not exceed 50–60% of gross monthly income. If your salary is ₹80,000/month, keep total EMIs below ₹32,000–₹40,000 for financial safety.
What are current home loan interest rates in India 2026?
Home loan rates in India in 2026 range from 8.35% to 9.5% per annum for salaried borrowers with good credit. SBI offers from 8.50%, HDFC from 8.70%, ICICI from 8.75%, and Bajaj Finserv from 8.50%. Rates are lower for higher credit scores (750+). Use the interest rate slider above to calculate EMI at your specific rate.
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