LOANS
Loan EMI Calculator
Estimate your monthly EMI, total interest, and total loan cost for home, car, personal, education, or other loans. This is an educational estimate, not loan approval.
Your loan details
Loan type
Starting assumptions only — edit any field to match your lender's offer.
Processing fee
Percentage fee is treated as the total fee rate including GST and is added to the loan amount for EMI calculation.
MONTHLY EMI
₹43,391
per month for 20 years
Total interest
₹54.14 Lakh
Total payment
₹1.04 Crore
Base loan
₹50.00 Lakh
Tenure
20 years
This is not loan approval or eligibility. Actual EMI, interest rate, fees, insurance, and approval depend on the lender.
What this means
Estimated EMI is ₹43,391 per month for 20 years.
- Each EMI includes both interest and principal.
- Total interest is about ₹54.14 Lakh over the full tenure.
- Processing fee is included in the financed amount, so it increases the EMI when entered.
- Total payment is EMI multiplied by the number of months; the processing fee is not added again.
What can change this
Floating rates, insurance, taxes, prepayment / foreclosure charges, late charges, and lender policies.
What to check
Lender quote, GST, insurance, legal / valuation / documentation charges, and prepayment / foreclosure rules.
Costs and assumptions
This estimate is based only on the information entered here.
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Plan your goal ›Understanding loan EMIEMI basics, interest, floating rates, processing fees, and when to use this calculator.
What is EMI?
EMI means Equated Monthly Instalment. It is the fixed monthly payment you make to repay a loan. Each EMI includes interest on the outstanding balance and a part of the loan principal.
How your loan reduces over time
Every EMI covers two things: interest on the outstanding balance and principal repayment. In the early months, most of the payment goes toward interest. As the principal reduces, the interest share falls and the principal share rises. This year-wise repayment pattern is also called amortization. The year-wise breakdown in the result above shows how your balance reduces each year.
Why total interest can look high
For long-tenure loans, interest is charged over many years. That is why total interest can become large even when the monthly EMI looks manageable. A 20-year home loan, for example, may cost more in total interest than the original loan amount. Changing the tenure or testing prepayment scenarios can change total interest. Check your lender's prepayment / foreclosure rules before making extra payments.
Fixed vs floating interest rate
This calculator assumes the interest rate stays the same throughout the tenure. Many Indian home loans are floating-rate loans, where the rate can change. If the rate changes, your EMI or remaining tenure may also change. You can re-run this calculator with the revised rate to see the impact on monthly outflow and total interest.
Floating rates in India are often linked to benchmarks such as MCLR (Marginal Cost of Funds-based Lending Rate) or EBLR (External Benchmark Lending Rate), which is tied to the RBI repo rate. Check your loan agreement for which benchmark applies.
About processing fees in India
Some lenders quote processing fee as a percentage. Others quote a fixed rupee amount or cap it at a fixed amount. Enter the total fee including GST if your lender has already quoted it. This calculator assumes the processing fee is financed as part of the loan, so it increases both EMI and total interest. If your lender collects it upfront, the EMI may be slightly lower.
When to use this calculator
- Checking home loan EMI before applying
- Checking car or personal loan EMI
- Comparing how tenure affects total interest
- Understanding total loan cost including processing fee
- Discussing a loan quote with your lender
- Estimating education loan repayment after moratorium
Example calculation
Suppose you take a ₹10 lakh personal loan at 10% annual interest for 5 years. Using the standard reducing-balance formula, the calculator estimates your monthly EMI, total interest over 60 months, and total amount payable. If you add a processing fee, the calculator adds that fee to the financed amount before estimating EMI. Try entering these values above to see the result.
How this EMI is calculated
This shows the simplified method used for the estimate. It is meant for transparency, not as a full financial model.
Formula
Scroll sideways if the formula is wider than the screen.
Assumption: Standard reducing-balance EMI method. Processing fee is treated as part of the financed amount when entered, so it increases EMI and total interest.
Does not include prepayment / foreclosure charges, GST on other fees, insurance, or future floating-rate changes.
Frequently asked questions
What is EMI?▼
Does this EMI calculator include processing fee?▼
Is processing fee calculated as a percentage or a fixed amount?▼
Does this include GST on processing fee?▼
Why is total interest so high for long-tenure loans?▼
What is the difference between fixed and floating interest rate?▼
Is this loan approval or eligibility?▼
Does this include prepayment / foreclosure charges?▼
Results are estimates for educational and planning purposes only. This is not loan approval, loan eligibility, or financial advice. Actual EMI, interest, fees, and charges depend on the lender and your credit profile. Consult a qualified financial adviser before making borrowing decisions.