EMI Calculator

Change Loan Amount, Interest Rate & Tenure for your calculation
Loan Amount
Rs. 20,00,000
Rs. twenty lakh(s).
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
Calculated Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Principal + Interest

How EMI Calculator works or Calculate EMI

Our EMI calculator is easy to use and quick to perform. Use our EMI calculator as a guide before applying for any kind of loan.

What is an EMI Calculator?

EMI calculator lets you know how affordable a loan can be for you. Always use the calculator to get a quick quote on your EMIs. You can calculate any loan emi with this calculator be it home loan, personal loan, car loan, education loan, loan against property, two wheeler loan or gold loan. If the quote is satisfactory, you can apply for the loan directly through Deal4loans.

Follow below mentioned steps to calculate your loan EMI:

  • Enter the loan amount you wish to avail in the EMI calculator.
  • Then enter the loan tenure (months).
  • And the rate of interest (reducing).
  • Press "calculate".
  • Our EMI calculator will tell you just how much your EMI amount comes to.

Along with your EMI you also get:

  1. Total amount with interest.
  2. Flat interest rate PA / PM.
  3. Total interest amount.
  4. Yearly interest amount.

If you think the EMI is a bit more than you can afford, you can always re-calculate. This time enter either less loan amount or longer loan tenure in the calculator. You can also continue to re-calculate until our calculator gives you an EMI that you are satisfied with.

Also, remember to compare quotes from different banks. You can do this by entering the loan amount and the rate of interest with the loan tenure of, say bank "A". See how much it amounts to. Then do the same again of bank "B". Whichever suits your needs and fits your wants, apply.

In today’s scenario, banks are coming your way with bouquet of offer for your loan requirements. To have the finest deal from these banks, one should ponder to following points before cracking a deal. Don’t be corrupted by paying high EMIs at low rate of interest

Formula of Calculation of EMI

The EMI is calculated based on the formula;

EMI= [P X I X (1+I)^N]/[(1+I)^N-1]

Here's some example of loan amount with pre caclulation emi's

Home Loan EMI Calculation Example:

Loan amount

Interest Rate

Repayment Period

EMI per month

5 Lakh 8.35% 10 Years Rs. 6,159
10 Lakh 8.50% 15 Years Rs. 9,847
15 Lakh 8.60% 20 Years Rs. 13,112
20 Lakh 8.70% 25 Years Rs. 17,610

Personal Loan EMI Calculation Example:

Loan amount

Interest Rate

Repayment Period

EMI per month

2 Lakh 12.50% 4 Years Rs. 5,316
4 Lakh 14.00% 5 Years Rs. 9,307
5 Lakh 12.00% 6 Years Rs. 9,775
7 Lakh 13.00% 6 Years Rs. 14,052

Car Loan EMI Calculation Example:

Loan amount

Interest Rate

Repayment Period

EMI per month

4 Lakh 8.65% 3 Years Rs. 12,655
8 Lakh 8.80% 4 Years Rs. 19,832
9 Lakh 9.00% 5 Years Rs. 18,683
13 Lakh 9.25% 7 Years Rs. 21,081

Other Online Calculator & Tools

Home Loan EMI Calculator Home Loan Eligibility Calculator
Personal loan EMI calculator Personal loan eligibility Calculator
Prepayment Calculator Part Payment Calculator
Car loan EMI Calculator Home Loan Balance Transfer Calculator

Better compare EMIs with same tenure And then with rate of interest

(1) Check your reimbursement power (EMI) : You repay the loan in Equated Monthly Installments (EMI) that consists of principal as well as interest. Since you pay an equal amount every month, these payments are called equal monthly installments. The EMI depends on the amount of the loan, the interest rate and the term of the loan. It is an unequal combination of principal repayment and interest cost every month. In the beginning, bank recovers their interest payments and gradually more of the principal repayment by the end of the loan tenure. EMI amount should range maximum to the 40% of your monthly income. One should consider offers from various banks as it may differ from bank to bank. Your involvement in the process might end up in a win-win situation for you.

(2) Market around (Rate of interest):Today, there are many lenders in the market and every bank is offering loans be it a nationalized bank, private bank or foreign bank. Every bank offers different personal loan rates and home loan rates according to the profile of the customer. So, before finalizing a deal one should consider deals from various banks and then come to a conclusion. Be aware of the fact that some people might mislead you by charging high rate of interest at reducing rate and might inform the same at flat rate of interest. So, its always advisable to check full detail of the banks and do better comparison in respect of EMIs , Tenure and rate of interest and keeping tenure as constant with all the banks will ease your comparison and will result in better analysis, finally leading to a prudent decision.

(3) Tenure:It’s one of the most important factors that one should keep in mind while taking loan. It refers to the no. of years for which the loan has been taken. Longer the tenure, higher will be the interest paid and lower will be amount of EMI to be paid and vice-a-versa. It is one of the parameters which helps in comparing the EMIs from different banks keeping it constant for relationship and easing the judgement.

(4) Loan Disbursal Time: Loan disbursal time is the period in which loan is processed and the customer receives the demand draft from the bank. Disbursal time differs from bank to bank. It is an important factor because there is always a reason behind taking a loan if the opportunity of that objective is lost then it is of no use. So, better ask your bank the Turn Around Time and take the loan considering your urgency or better plan it in advance.

(5) Processing Fee, Administrative Charges & Pre-Payment Charges: When you borrow, your loan carries other charges as well apart from interest that may include Processing Fee which bank charges to process your file and pays to the processing hubs, charges may vary from 1-2% of the loan amount sanctioned by bank. Besides this, there are Pre-Payment Charges also which the loan carries for the Pre-Closure of the Loan. So, it is always advisable to take loan which has no penalty for the pre-closure of loan because it might happen in the long-run you might have enough money to pay your debt and thereby save interest on the same or you can have the opportunity to get your loan tranferred at low rate of interest.

(6) Insurance Facility: Some bank offers insurance facility by charging small amount of premium which is added to the EMI paid for the loan amount and the person is insured for the amount he has taken loan. Just in case something unexpected happens, the assured amount will be given to the bank without burdening the members of the family.

FAQs on EMI Calculator

Q: What is an EMI calculator?
Ans: An EMI calculator is a financial tool used to calculate Equated Monthly Installments (EMIs) for loans or mortgages. It helps borrowers estimate their monthly repayment amount based on the loan amount, interest rate, and tenure.

Q: How does an EMI calculator work?
Ans: An EMI calculator uses the following formula to calculate the EMI: EMI = P * r * (1 + r)^n / ((1 + r)^n - 1) where:
  • P is the principal amount
  • r is the interest rate
  • n is the number of months
Q: What are the benefits of using an EMI calculator?
Ans: There are many benefits of using an EMI calculator. Some of the benefits include:
  • It can help you determine how much you can afford to borrow.
  • It can help you compare different loan options.
  • It can help you save money on interest payments.
  • It can help you budget for your monthly loan payments.

Q: Can I use an EMI calculator for any type of loan?
Ans: Yes, you can use an EMI calculator for any type of loan, including home loans, car loans, personal loans, and credit card debt consolidation loans.

Q: How to use an EMI calculator?
Ans: To use an EMI calculator, you will need to enter the following information:
  • The loan amount
  • The interest rate
  • The number of months
Once you have entered this information, the calculator will calculate the EMI amount.

Q: Can I use an EMI calculator for prepayment calculations?
Ans: Some EMI calculators also offer a feature to calculate the impact of making prepayments on your loan. It helps you understand how additional payments can reduce your loan tenure and interest costs.

Q: Can I calculate the total interest paid using an EMI calculator?
Ans: Some EMI calculators provide the option to view the total interest paid over the loan tenure along with the EMI amount. This can help you understand the cost of borrowing more effectively.
Sample Results
Year Principal Interest Balance Amount
1 Rs. 31,083 Rs. 208,533 Rs. 1,968,917
2 Rs. 34,509 Rs. 205,107 Rs. 1,934,408
3 Rs. 38,311 Rs. 201,305 Rs. 1,896,097
4 Rs. 42,537 Rs. 197,079 Rs. 1,853,560
5 Rs. 47,221 Rs. 192,395 Rs. 1,806,339
6 Rs. 52,426 Rs. 187,190 Rs. 1,753,913
7 Rs. 58,203 Rs. 181,413 Rs. 1,695,710
8 Rs. 64,618 Rs. 174,998 Rs. 1,631,092
9 Rs. 71,740 Rs. 167,876 Rs. 1,559,352
10 Rs. 79,644 Rs. 159,972 Rs. 1,479,708
11 Rs. 88,422 Rs. 151,194 Rs. 1,391,286
12 Rs. 98,165 Rs. 141,451 Rs. 1,293,121
13 Rs. 108,983 Rs. 130,633 Rs. 1,184,138
14 Rs. 120,994 Rs. 118,622 Rs. 1,063,144
15 Rs. 134,327 Rs. 105,289 Rs. 928,817
16 Rs. 149,132 Rs. 90,484 Rs. 779,685
17 Rs. 165,567 Rs. 74,049 Rs. 614,118
18 Rs. 183,812 Rs. 55,804 Rs. 430,306
19 Rs. 204,069 Rs. 35,547 Rs. 226,237
20 Rs. 226,407 Rs. 13,056 Rs. 0
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Personal Loan Rate of Interest
( Last updated on 04 October 2023 )
of Interest
Apply Here
Kotak Mahindra Bank 10.50%-16.99%
Rs.999 - 2% APPLY
HDFC Bank 10.75%-13.45%
upto 3999 + GST APPLY
Fullerton India 11.99%-26.00%
2.00% APPLY
Standard Chartered 11.00%-12.50%
Bajaj Finserv 11.99%-16.00%
Upto 2.00% APPLY
ICICI Bank 11%-17.50%
0.50% - 2.25% APPLY
Indus Ind Bank 12.99%-20.00%
Up to 50% off * APPLY
Citibank 11.49%-16.50%
IDFC First 10.99%-21.00%
Upto Rs.9999 APPLY
SBI Personal Loan 11.95%-16.55%
2.00% - 3.00% APPLY
Tata Capital 11.99%-17.00%
1.25% - 2.50% APPLY
Axis Bank 15.00%-20.00%
2.00% APPLY
Yes Bank 10.45%-16.99%
Upto 2% APPLY
Home Loan Rate of Interest
( Last updated on 04 October 2023 )
of Interest
Apply Here
GIC Housing Finance 8.45% Nil APPLY
LIC Housing 8.50% - 10.50% Nil APPLY
AXIS Bank 8.60% - 9.05% Nil APPLY
State Bank Of India (SBI) 8.60% - 9.65% Nil APPLY
Bank of India 8.65% - 10.75% Nil APPLY
HDFC Bank 8.65% - 9.35% Nil APPLY
IDBI 8.75% - 12.25% Nil APPLY
HSBC Bank 8.75% - 8.85% Nil APPLY
Canara Bank 8.90%- 11.25% Nil APPLY
ICICI Bank 9.00% - 9.70% Nil APPLY
Bank of Baroda 9.15% - 10.50% Nil APPLY
Indian Bank NA Nil APPLY