Advanced EMI Calculator | Home Loan, Car Loan & Personal Loan Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, personal loans, and education loans worldwide. Get detailed amortization schedule, yearly payment breakdown, visual charts, and comprehensive loan analysis with our free online EMI calculator.
Break-up of Total Payment
Payment Analysis Chart
Enter loan details to see yearly breakdown
| Year | Principal (₹) | Interest (₹) | Total Payment (₹) | Balance (₹) | Loan Paid (%) |
|---|---|---|---|---|---|
Enter loan details to see yearly schedule | |||||
What is EMI?
Equated Monthly Installment (EMI) is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid.
The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment.
EMI Formula
How to Use Our EMI Calculator?
Step-by-Step Guide
Select Loan Type
Choose between Home Loan, Car Loan, Personal Loan, or Education Loan
Enter Loan Amount
Input the principal loan amount you wish to borrow
Set Interest Rate
Enter the annual interest rate offered by your lender
Choose Tenure
Select the loan tenure in years
Features & Benefits
Types of Loans Supported
For purchasing or constructing residential property
For purchasing new or used vehicles
For personal expenses and financial needs
For higher education and academic expenses
Floating Rate EMI Calculation
For floating or variable rate loans, we recommend calculating EMI by considering two opposite scenarios:
Optimistic Scenario
Assume interest rates decrease by 1-3%. Calculate EMI under this condition to plan for potential savings.
Pessimistic Scenario
Assume interest rates increase by 1-3%. Ensure you can afford the higher EMI without financial stress.
Frequently Asked Questions
What is the difference between EMI in Arrears and EMI in Advance?
EMI in Arrears is paid at the end of each month, while EMI in Advance is paid at the beginning. This affects the interest calculation, especially for car loans.
How accurate is the EMI calculation?
Our EMI calculator uses the standard EMI formula and provides accurate results. However, actual EMI may vary slightly due to processing fees and other charges.
Can I calculate EMI for different loan amounts and tenures?
Yes, you can input any loan amount (₹1L to ₹10Cr) and tenure (1-30 years) to calculate EMI for various scenarios.
What is included in the amortization schedule?
The schedule shows monthly/yearly breakdown of principal, interest, total payment, remaining balance, and percentage of loan paid.