Calculate Your Loan EMI
in Seconds
Get accurate monthly EMI, total interest, total payment, and a complete amortization schedule for home, car, personal, education, gold, and business loans all in Indian Rupees.
No downloads requiredRBI-standard formulaPowered by EquifaxLoans Details
Principal vs Interest
Distribution of your total payment
Monthly EMI
₹18,275
For 72 months · 6 years tenure
Principal
₹10.00 L
76.0%
Total Interest
₹3.16 L
24.0%
Total Payment
₹13.16 L
Principal + interest
Interest — Year 1
₹89.4 K
First 12 months
Processing fee and Effective APR (Optional)
Effective APR
9.50%
vs stated 9.5%
Total cost incl. fee
₹13.16 L
EMIs + fee (excl GST on fee)
APR (Annual Percentage Rate) is computed as the IRR of your net disbursement vs all EMI payments. Compare lenders using APR, not the stated rate, for an apples-to-apples cost comparison.
Yearly Breakdown
Principal and interest paid each year (first 6)
EMI Repayment Schedule
Total Principal
₹10,00,000
Total Interest
₹3,15,778
Total Amount Paid
₹13,15,778
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The credit market in India is steadily on the rise. It is currently the 4th largest credit industry in the world, recording a CAGR of over 11% year on year. A vast majority of these advances are short-term credits such as personal loans and credit cards. Combined, these two financial products account for 78% of all credit lending in India. Loan repayments include EMIs and borrowers should consider the EMI amount to accurately plan their current and future finances.
There are several EMI calculators available online; one must choose an accurate EMI calculator and learn its usage to calculate the exact EMI amount they are liable to pay for a loan.
Factors Affecting Your Due Amount
There are certain factors you need to consider while planning for applying for a loan. Based upon your financial and repayment capacity, you will be required to calculate equated monthly instillments (EMI). Here are a few factors to consider-
Terms of the Loan
A loan's tenure may get reduced or extended. Subsequently, there will be an increase or a decrease in the EMI amount as well. Thus, considering the term of a loan is also an important factor that may affect your due amount.
Rate of Interest
The rate of interest is a vital factor that will help to assess the installment amount owed. You can compare the product and opt for one which has a lower rate of interest so that your overall repayment stays low.
Amount of Loan
Choosing the loan amount is another significant factor for determining your EMI. Based on the loan amount you choose, your equated monthly installment will be calculated accordingly.
How can an online EMI calculator help you?
The number of credit accounts is growing at an even higher CAGR of 28% and has reached 107 million accounts at the end of FY18.
Regardless of the type of loan you want to avail of, be it a secured or unsecured advance, it is paramount that you know how much monthly instalment you have to make before you avail it. That is where an EMI calculator in India can be immensely helpful.
- It helps you get an accurate estimate of your EMI amount so that you can plan your finances accordingly. Make sure that your debt-to-income ratio is below 50% to maximize your chances of loan approval.
- A Loan EMI Calculator helps you save valuable time. You don't have to do complex calculations manually, which can be quite time-consuming.
- It eliminates any chance of a miscalculation, providing you with an accurate estimate every time.
- It is highly specific for each type of loan. The EMI breakup of a home loan, for example, is different from that of a personal loan.
How to Calculate EMI for Personal Loan
Personal loans are unsecured and carry the highest rates among retail loan products — typically 10.5% to 24% per annum in India in 2026. To calculate EMI for personal loan, the formula is identical: same three inputs (principal, monthly rate, tenure in months), same reducing balance calculation.
Example: ₹5 lakh personal loan at 14% per annum for 3 years: r = 14 ÷ 12 ÷ 100 = 0.01167, n = 36. EMI = ₹17,090/month. Total interest: ₹1,15,240 on a ₹5 lakh loan over 3 years — 23% of the principal, paid as interest cost.
Key considerations for personal loan EMI:
- Most banks offer personal loans for 1–5 years (12–60 months). Longer tenure = lower EMI but higher total interest.
- Processing fees (1–3%) are charged upfront and increase the effective cost. Always factor these into your true cost comparison.
- Pre-approved personal loans for existing customers are typically 1–2% cheaper than walk-in applications.
Frequently Asked Questions
CIBIL is a repository of information that collects and maintains the data provided by Banks and NBFCs, where individual have or had loans in the past. It has information about individual past and present repayment history and the status of individual loan accounts, personal information such as individual identity information, employment history, contact information, etc. It also keeps track of all the enquiries that individual has made for credit from various banks and financial institutions.
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