EMI Calculator — home, car and personal loans

Work out the monthly EMI on any loan from the amount, interest rate and tenure. You also get the total interest, a year-by-year amortization schedule, and how much interest an extra monthly prepayment would save.

How to use PaisaCalc

How PaisaCalc works

Pick a calculatorTap a tab in the strip below (Loan EMI, SIP, FD and more). Tabs after the "India" label follow Indian rules, such as GST, PPF and Income Tax.
Enter your numbersType in a box or drag a slider. The result updates as you go.
Choose your currencyUse the Currency menu above. It changes the symbol and number format only; it does not convert amounts.
Share a resultTap Share this result, WhatsApp or Copy link. The link opens the same calculator with your numbers filled in.

Everything is worked out in your browser; the numbers you type are not sent to us. Results are estimates, not financial advice.

Loan amount

Interest rate (p.a.)

Tenure

Extra monthly prepayment (optional)

Monthly EMI

—

PrincipalInterest

Principal

Total interest

Total payable

Amortization schedule (year-wise)

Year	Principal	Interest	Balance

Monthly investment

Expected return (p.a.)

Time period

Annual step-up

Projected value

—

InvestedReturns

Invested amount

Est. returns

Step-up raises your monthly amount each year — a powerful way to grow wealth as income rises.

One-time investment

Expected return (p.a.)

Time period

Future value

—

Invested

Est. returns

How much to invest monthly to reach a target corpus.

Target amount

Expected return (p.a.)

Years to goal

Monthly SIP needed

—

One-time lumpsum alternative

Total you'll invest (SIP)

Deposit amount

Interest rate (p.a.)

Tenure (years)

Compounding

Maturity value

—

Principal

Interest earned

Recurring deposit — a fixed amount every month, compounded quarterly.

Monthly deposit

Interest rate (p.a.)

Tenure (months)

Maturity value

—

Total deposited

Interest earned

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Public Provident Fund — current rate 7.1% (Oct–Dec 2026), compounded yearly, tax-free; matures after 15 years, extendable in 5-year blocks.

Yearly deposit (₹500 to ₹1.5L)

Interest rate (p.a.)

Duration (years)

Maturity value

—

Total deposited

Interest earned (tax-free)

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Amount (₹, INR)

GST rate

Amount type

Since 22 Sep 2025 the main GST rates are 5% and 18%, and 40% for luxury and sin goods. 12% and 28% are the earlier slabs, kept for older bills.

Total amount

—

Base amount

GST (18%)

CGST + SGST

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Compare the New and Old regimes side by side for FY 2026-27 (tax year 2026-27). Enter deductions for the Old regime.

Annual gross salary income

Old-regime deductions (80C, HRA, etc.)

New regime

—

Old regime

—

You save by choosing the better one

New regime: ₹75,000 standard deduction; no tax up to ₹12,00,000 taxable (rebate, with marginal relief just above). Old regime: ₹50,000 standard deduction + your deductions; 5/20/30% slabs, rebate up to ₹5,00,000. Surcharge above ₹50 lakh and 4% cess included. Resident below 60; indicative, not tax advice.

Bill / price

Mode

Percentage

You pay

—

Discount

Systematic Withdrawal Plan — how long your corpus lasts while you draw a fixed amount each month.

Corpus invested

Monthly withdrawal

Expected return (p.a.)

Period

Balance after period

—

Total withdrawn

Corpus status

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Sukanya Samriddhi Yojana — deposit yearly for 15 years; matures in 21 years. Current rate 8.2% (Oct–Dec 2026), compounded annually, tax-free.

Yearly deposit (₹250 to ₹1.5L)

Interest rate (p.a.)

Maturity value (21 years)

—

Total deposited (15 yrs)

Interest earned (tax-free)

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

National Pension System — corpus at 60; at least 20% (government staff: 40%) must buy an annuity that pays the pension.

Monthly contribution

Expected return (p.a.)

Your age

Annuity return (p.a.)

Subscriber type (minimum annuity)

Corpus at 60

—

Lumpsum at 60 (up to 80%)

of which tax-free (60% of corpus)

Annuity corpus (20%)

Est. monthly pension

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Gratuity = last wages (Basic + DA) × 15 ÷ 26 × years of service (Code on Social Security, 2020).

Last monthly wages (Basic + DA)

Years of service

Gratuity payable

—

Tax-free (limit ₹20 lakh)

Taxable above ₹20 lakh

Payable after 5 years of continuous service (1 year on a fixed-term contract). Count a final part-year of more than 6 months as a full year.

India tax & savings tool · always in ₹ (INR), whatever currency you pick above.

Estimate your monthly in-hand from annual CTC (New tax regime, standard assumptions).

Annual CTC

Estimated monthly in-hand

—

Annual in-hand

Employee PF

Income tax (New regime)

Professional tax

Indicative only, FY 2026-27 New regime. Assumes Basic = 50% of CTC, employer + employee PF at 12% of Basic up to the ₹15,000 wage ceiling (₹1,800/month each), gratuity provision 4.81% of Basic, ₹75,000 standard deduction, ₹2,500/yr professional tax. Your actual structure varies.

How big a loan you may qualify for, from your income and existing EMIs (FOIR method).

Net monthly income

Existing monthly EMIs

Interest rate (p.a.)

Tenure

FOIR (income share for EMIs)

Eligible loan amount

—

Max affordable EMI

Mode

Principal

Rate (p.a.)

Time

Total amount

—

Interest

Absolute return

What today's money will cost — and be worth — in the future.

Amount today

Inflation rate (p.a.)

Years

Future cost of the same basket

—

Today's amount will then be worth

How the EMI Calculator works

EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]

P — loan amount (principal)
r — monthly interest rate = annual rate ÷ 12 ÷ 100
n — tenure in months

Each month the interest part is the outstanding balance × r; the rest of the EMI repays principal. That is why early EMIs are mostly interest and late ones mostly principal. With a prepayment, the extra amount goes straight to principal every month, so the balance — and the interest charged on it — falls faster.

Sources

Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 — no charge on floating-rate loans to individuals for non-business purposes

Rules and rates checked 13 November 2026. Also in the PaisaCalc app, with the other money calculators.

Worked example

A loan of 1,000,000 at 9% a year for 20 years:

Monthly rate r	9 ÷ 12 ÷ 100 = 0.0075
Months n	20 × 12 = 240
(1 + r)ⁿ	6.0092
Monthly EMI	8,997
Total payable	2,159,342
Total interest	1,159,342

So the EMI is 8,997 a month, and over 20 years you pay back 2,159,342 — of which 1,159,342 is interest.

The arithmetic is the same in any currency; the calculator shows results in the currency you pick.

Load these numbers into the calculator →

Frequently asked questions

What is an EMI?

An Equated Monthly Instalment is the fixed amount you pay the lender every month until the loan is repaid. Each EMI is part interest and part principal.

Does a longer tenure reduce the EMI?

Yes, a longer tenure lowers the monthly EMI, but you pay interest for more months, so the total interest goes up. The calculator shows both numbers so you can compare.

How does prepayment help?

Any amount paid over the EMI reduces the principal directly. Interest is charged on a smaller balance from then on, so the loan closes earlier and the total interest falls. The calculator keeps the EMI the same and shortens the tenure.

Is the interest worked out on the full loan or on what is left?

On what is left (reducing balance), every month, which is how banks compute home, car and most personal-loan EMIs. A "flat rate" quote charges interest on the original amount for the whole term, so the same flat rate costs much more; compare loans on the reducing-balance rate.

Can a lender in India charge for prepaying a floating-rate loan?

Not on an individual's non-business loan. Under the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025, banks and NBFCs may not charge for part or full prepayment of a floating-rate loan taken by an individual for a non-business purpose, for loans sanctioned or renewed from 1 January 2026; floating-rate home loans were already free of such charges. A fixed-rate loan may carry a charge, which must be stated in the loan agreement.

Related calculators

Loan Eligibility Calculator — how large a loan your income supports, before you pick an amount
In-hand Salary Calculator — your monthly take-home pay, the figure an EMI has to fit into
Simple Interest Calculator — interest without compounding, as on some informal loans

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PaisaCalc results are arithmetic estimates from the inputs you enter and the formulas shown. They are not financial, investment or tax advice; rates, rules and your own situation vary, so check with your bank, fund house or a qualified adviser before deciding.