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EMI Calculator — Home, Car & Personal Loan India

Calculator

Calculate your Equated Monthly Installment (EMI) for any Indian bank loan — SBI, HDFC, ICICI, Axis, Kotak home loans, car loans, or personal loans. Enter principal, interest rate, and tenure to get your EMI instantly plus a complete month-by-month amortization table showing principal vs. interest breakdown.

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Next Step — Complete Your Workflow

Check Interest Rate Impact →

See what a 0.5% rate change does to total interest paid

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Amount in Words →

Convert EMI or loan amount to words for documentation

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Expert Note — India 2026

As of RBI's April 2026 monetary policy, the repo rate stands at 5.75%. Most floating-rate home loans are linked to EBLR (External Benchmark Lending Rate). SBI's EBLR is repo + 2.65% = 8.40%. If your loan was sanctioned before October 2019 (when MCLR-linked rates were standard), you can request a switch to EBLR-linked rates — typically saving 0.25–0.5% annually on large home loan balances.

How to use EMI Calculator — Home, Car & Personal Loan India

1Enter your values in the fields above.
2Results calculate instantly as you type — no button click needed for most tools.
3Copy the result using the Copy button.
4Use the Next Step workflow to chain into related tools.
5All processing runs locally in your browser. No data is transmitted.

Frequently Asked Questions

What is EMI?

EMI (Equated Monthly Installment) is a fixed payment made each month to repay a loan. It includes both principal repayment and interest on the outstanding balance.

What is the EMI formula?

EMI = [P × r × (1+r)^n] / [(1+r)^n - 1] where P = principal amount, r = monthly interest rate (annual rate / 12 / 100), n = loan tenure in months.

Does EMI change if RBI changes repo rate?

For floating-rate loans linked to EBLR or repo, yes. If RBI cuts repo rate by 0.25%, your bank must pass on the cut within 3 months. For MCLR-linked loans, it depends on your loan reset date (typically 6 or 12 months).

Should I reduce EMI or tenure on prepayment?

Reducing tenure saves more interest overall. Reducing EMI improves monthly cash flow. If your loan interest rate is above 8.5%, reducing tenure is mathematically superior unless you have liquidity constraints.