EMI Calculator India
Calculate monthly EMI for home loan, personal loan and car loan instantly.
₹1L₹5Cr
5%24%
1 yr30 yrs
Monthly EMI
₹43,391
Principal
₹50,00,000
Total Interest
₹54,13,879
Total Payment
₹1,04,13,879
Principal 48.0%Interest 52.0%
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay a loan. It includes both principal and interest.
How is EMI calculated?
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ−1), where P = principal, r = monthly interest rate, n = number of months.
Does prepayment reduce EMI?
Yes. Prepaying reduces the outstanding principal, which reduces total interest. You can either reduce the EMI amount or reduce the tenure.
What is the lowest home loan EMI per lakh?
At 8.5% for 20 years, EMI per ₹1 lakh is approximately ₹868. Lower rates or longer tenure reduces this further.