Monthly EMI, total interest and amortisation schedule for home, car, personal and education loans — instant, no login.
Home LoanCar LoanPersonal LoanEducation LoanAmortisationPrepayment Savings
🏠 Home Loan
🚗 Car Loan
💳 Personal Loan
🏫 Education Loan
Monthly EMI
—
per month
Total Interest
—
over full tenure
Total Payable
—
principal + interest
📈 EMI Calculator — FY 2025-26
Loan Amount₹30L
Home loan: typical ₹20L–₹1Cr₹1Cr
Interest Rate8.5%
5%SBI: ~8.5%
Loan Tenure20 yrs
1 yr30 yrs
Monthly EMI
—
per month
Total Interest
—
over full tenure
Total Payable
—
principal + interest
Interest %
—
of total payment
Principal
—
original loan
Tenure
—
total months
Principal—
Total Interest—
Total Payable—
💡 Prepayment Tip
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Year-by-Year Amortisation
Year
Principal Paid
Interest Paid
Balance
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). Rates shown are indicative — verify with your bank before applying. Actual EMI may vary due to processing fees and rounding.
EMI Calculator India 2025-26 — Loan EMI, Interest & Amortisation
EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to repay any loan. Every EMI has two components: principal repayment and interest. In early months, most of your EMI is interest — which is why prepaying in year 1 saves 8–10x more than prepaying in year 15.
⚡ Loan Quick Reference 2025-26
SBI Home Loan8.50%
HDFC / ICICI Home Loan8.75%
SBI Car Loan8.85%
Personal Loan (SBI)11–14%
Personal Loan (HDFC)10.5–24%
Education Loan (SBI)8.15%
80C — Home loan principal₹1.5L/year
Sec 24 — Interest deduction₹2L/year
Min CIBIL for home loan750+
The EMI Formula
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1) P = Principal · r = Monthly rate (annual ÷ 12) · n = Tenure in months
Example: ₹30L at 8.5% for 20 years → EMI = ₹26,036/month · Total: ₹62.49L · Interest: ₹32.49L
Higher down payment — reduces principal and EMI proportionally
Better CIBIL score (750+) — gets you the lowest available rate
Shorter tenure — higher monthly EMI but massive interest savings
Early prepayment — ₹2L in year 1 saves ~₹4L in total interest
Balance transfer — switch to a cheaper lender after rate cuts
Frequently Asked Questions
How is EMI calculated in India?+
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is monthly rate (annual ÷ 12), n is tenure in months. Example: ₹30 lakh at 8.5% for 20 years = EMI of ₹26,036/month. Over 20 years you pay ₹62.49 lakhs total — ₹32.49 lakhs is interest alone.
What is the EMI for ₹30 lakh home loan for 20 years?+
At 8.5% for 20 years, EMI = ₹26,036/month. Total paid: ₹62.49L — ₹32.49L is interest. At 9%, EMI = ₹26,992. If you choose 15 years instead of 20 at 8.5%, EMI rises to ₹29,542 but you save approximately ₹9.4 lakhs in total interest. Always compare total cost, not just monthly EMI.
Is it better to increase EMI or make a lump sum prepayment?+
Both reduce interest, but lump sum prepayment in early years is more impactful. ₹2L prepaid in year 1 of a 20-year home loan at 8.5% saves ~₹4–4.5L in total interest. The same ₹2L prepaid in year 15 saves only ₹40,000–60,000. Early prepayment is 8–10x more effective due to the compound effect on the remaining principal.
Should I choose fixed or floating interest rate?+
Floating rate: EMI or tenure changes with RBI repo rate. Typically 0.5–1% lower than fixed initially. Most India home loans are floating (repo-linked). Best when rates are high and expected to fall. Fixed rate: EMI stays constant regardless of rate changes. Best when rates are low and expected to rise. If you want certainty, go fixed. If you expect rate cuts (like post RBI easing cycles), floating wins.
Is EMI tax deductible in India?+
For home loans: principal qualifies for Section 80C deduction up to ₹1.5L/year. Interest qualifies for Section 24(b) up to ₹2L/year for self-occupied property (unlimited for let-out). Car loans and personal loans have no EMI tax benefit unless the loan is for a business or profession purpose.
What happens if I miss an EMI payment?+
Three consequences: (1) Penalty of 1–2% per month on overdue amount, (2) CIBIL score drops 50–100 points — even one missed EMI shows as DPD (Days Past Due) on your credit report, (3) Continued defaults lead to NPA classification and for secured loans (home, car), the bank can initiate recovery. Always set up NACH auto-debit for EMIs.