Calculate EMI, interest, and repayment schedule
Calculate your Equated Monthly Installment (EMI) for personal loans, home loans, car loans, and more. See the total interest you'll pay and your complete repayment schedule.
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
Unsecured loans for travel, medical, wedding, or any personal need. Interest rates typically 10-24%.
Secured loans for purchasing or renovating property. Interest rates typically 6.5-12%.
Vehicle purchase financing. Interest rates typically 7-15% depending on credit score.
Student loans for higher education. Interest rates typically 8-14% with moratorium period.
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay your loan. It includes both principal and interest components.
You can reduce EMI by: increasing down payment, choosing longer tenure, or negotiating lower interest rates. However, longer tenure means more total interest.
Fixed rate remains constant throughout the loan tenure. Floating rate changes with market conditions, usually linked to a benchmark rate like prime lending rate.