Calculate loan EMI live - home, car, personal, education, gold. Amortization, prepayment savings, processing fee, affordability check. Runs in your browser.
Who Uses EMI Calculator
EMI Calculator is the everyday tool for anyone planning a loan in India - first-time home buyers comparing 20-year vs 25-year tenures, car buyers checking whether a higher down-payment cuts the EMI enough to matter, students sizing up education-loan repayments, parents planning a marriage with a personal loan, and existing borrowers calculating prepayment impact before making a lump-sum payment. It's also useful for HR teams sanity-checking salary offers ("can this CTC service the home loan?") and for accountants modelling client cashflows.
EMI Calculator Features
- Indian-bank rate presets — Tap Home, Car, Personal, Education, or Gold to load realistic rate ranges and typical tenure for that loan type.
- Donut + yearly bars — Donut shows principal vs interest at a glance. Year-by-year bar chart visualises how the repayment shifts.
- Prepayment savings — Type a one-time lump-sum prepayment and see exactly how much interest you'd save over the life of the loan.
- Full amortization — Month-by-month breakdown of EMI, principal, interest, and remaining balance. Download the schedule as CSV.
How to Use EMI Calculator
Four steps. Updated for 2026 Indian bank rates.
- Pick a loan type — Tap Home / Car / Personal / Education / Gold for sensible defaults, or pick Custom for total control.
- Adjust the sliders — Tweak loan amount, interest rate, and tenure. Numbers update live - no submit button.
- Add prepayment + fee — (Optional) Add a one-time prepayment to see savings, and a processing-fee % to see the all-in cost.
- Download or share — Copy the summary, share the result, or export the full amortization table as CSV.
Frequently Asked Questions
How is EMI calculated?
Standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly rate (annual / 12 / 100), and n is tenure in months. The same formula every Indian bank uses (SBI, HDFC, ICICI, Axis, Kotak, PNB, etc.) - so the EMI here matches what your bank will quote for the same inputs.
Which loan-type presets are available?
Home Loan (6.5-12% p.a.), Car Loan (7-15%), Personal Loan (10-24%), Education Loan (6-14%), Gold Loan (7-18%), plus a Custom option that goes 1-36% with a 30-year tenure cap. Each preset loads sensible defaults so you don't have to guess where the slider should start.
Does prepayment really reduce my total interest?
Significantly. A ₹1 lakh prepayment on an ₹30L home loan at 8.5% over 20 years saves around ₹1.5L in total interest. The tool shows the exact saving live as you type the prepayment amount - so you can compare different prepayment sizes before committing.
What does the affordability check tell me?
A rule-of-thumb: banks typically recommend EMI ≤ 40-50% of monthly take-home. The tool flags a high-EMI warning above ₹50,000/month and shows the minimum monthly income at which the EMI is considered manageable (assumes 40% EMI-to-income ratio).
Why does the year-by-year chart shift colour?
In the early years of a loan, most of your EMI goes toward interest and a small slice toward principal. As the years pass, principal payments grow and interest shrinks. The bar visualises that shift - amber (principal) grows, red (interest) shrinks. Useful for understanding why prepayment EARLY in the loan saves the most.
Is the processing fee included in the total?
Yes. Pick a processing-fee percentage (0-2%) and the tool shows the one-time fee plus the "total cost of loan" (EMI × tenure + processing fee). Most Indian banks charge 0.5-2% as processing fee - the default of 1% is a reasonable starting point.
Can I download the schedule?
Yes. The full month-by-month amortization table (Month / EMI / Principal / Interest / Balance) downloads as a CSV file you can open in Excel or Google Sheets - useful for record-keeping or for comparing with the schedule your bank provides.
Is my loan data uploaded anywhere?
No. The calculator runs entirely in your browser - no server call, no analytics on the income / EMI figures, nothing logged. Refreshing the page wipes everything. Safe to use for sensitive numbers like your salary or planned home-loan amount.
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