🏦 Updated June 2, 2026

EMI Calculator India 2026

Calculate monthly EMI for home, car, or personal loans. Full amortisation schedule. standard reducing balance formula. Shareable results.

Standard EMI formulaFull amortisation scheduleWhatsApp shareCopy page link
Updated June 2, 2026 · Source links and assumptions shown below
EMI Calculator India 2026
Updated June 2, 2026 — source links and assumptions shown below
₹
📊 Sample rate presets — tap to test scenarios
SBI Home 8.5% HDFC Home 8.75% ICICI Home 8.75% Car Loan 9% Personal 10.5% Personal 12%
Monthly EMI
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Every month
Total Interest
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—
Total Payable
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Principal + Interest
Calculation Breakdown
Principal loan amount—
Total interest payable—
Interest as % of principal—
Total amount payable—
Monthly interest rate—
Tenure—
Principal: —Interest: —
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Yearly Amortisation Schedule
YearPrincipalInterestTotal PaidBalance

How to Use This EMI Calculator

  1. Loan Amount: Enter the total amount to borrow after your down payment. For a ₹60L property with ₹12L down payment, enter ₹48,00,000.
  2. Interest Rate: Enter the annual rate from your bank, or tap one of the rate chips. Use the rate your lender quotes; the preset chips are only sample scenarios for quick testing.
  3. Tenure: Enter duration in years or months. Longer tenure = lower EMI but significantly more total interest paid.
  4. Share: After calculating, tap WhatsApp to share your exact result, or Copy Link — the URL contains your inputs so anyone opening it sees the same calculation.

EMI Formula — Standard Reducing-Balance EMI Method

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

P = Principal  |  r = Annual rate ÷ 1200  |  n = Tenure in months

Verified: ₹30L at 8.5% for 20 years → r = 0.007083 → EMI = ₹26,035/month · Total interest = ₹32,48,400 · Total payable = ₹62,48,400

How to use rate presets safely

LenderInterest RateRisk Level
SBI Home Loan8.50%–9.65% p.a.LOW
HDFC Bank Home Loan8.75%–9.65% p.a.LOW
ICICI Bank Home Loan8.75%–9.80% p.a.LOW
Axis Bank Home Loan8.75%–10.30% p.a.LOW
Car Loan (general)7.50%–12.00% p.a.MEDIUM
Personal Loan (banks)10.50%–18.00% p.a.HIGH
RBI Repo Rate (Apr 2026)5.25% p.a.RBI MPC / public policy updates

Rates as of April 2026. Always verify directly with your bank as rates change frequently. Source: RBI · respective bank websites.

Frequently Asked Questions

EMI = ₹26,035/month. Total interest = ₹32,48,400. Total payable = ₹62,48,400. Calculated using standard reducing balance formula.
EMI = ₹20,758/month. Total interest = ₹2,45,480. Total payable = ₹12,45,480. Verify using the calculator above.
EMI = ₹44,986/month. Total interest = ₹57,96,720 — more than the loan principal itself. Total payable = ₹1,07,96,720. This illustrates why prepayments early in the tenure save lakhs.
(1) Increase tenure — a 25-year loan has lower EMI than a 15-year loan, though total interest is higher. (2) Make prepayments — even one extra EMI per year cuts tenure significantly. (3) Negotiate lower rate — 0.5% lower on ₹50L saves ₹2–3 lakhs over 20 years. (4) Balance transfer — switch to a cheaper lender.
FOIR (Fixed Obligation to Income Ratio) is all your EMIs as a % of take-home pay. Banks approve below 40–50% FOIR. On ₹1 lakh take-home, total EMIs should not exceed ₹40,000–₹50,000. Higher FOIR reduces your loan eligibility.
This calculator uses the standard reducing-balance EMI formula commonly used for Indian retail loans. Actual EMI can differ because of lender rounding, reset dates, processing fees, insurance, rate changes, broken-period interest, and loan-specific terms. Use it for planning and compare the final sanction letter before making a borrowing decision.
SBI: 8.50–9.65%, HDFC: 8.75–9.65%, ICICI: 8.75–9.80%, Axis: 8.75–10.30%. Car loans: 7.50–12%. Personal loans: 10.50–18%. RBI repo rate: 5.25% as of April 2026. Always verify directly with your bank.

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Source, accuracy and review note

Maintained by the RupeeCalc editorial workflow. Last checked: 29 May 2026. This page gives informational estimates only; verify official sources, your own documents, and a qualified professional before filing taxes, taking loans, investing, invoicing, or making compliance decisions.

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Compare total interest cost, lender fees, prepayment options and what to check before signing any loan agreement.

EMI Decision Checklist →