Loan EMI Calculator

Recalculate your Loan EMI and Total Interest Due in a snap!

Your Loan Details

Use the slider to alter your Loan details.

Loan Amount
Loan Amount:
Interest Rate in %:
Processing Fee: (% of loan amount)
Would you like to make Pre-payments?
Pre-payment Frequency
Pre-payment starts in
Pre-payment amount
Loan Completion Month
Pre-payment Fee %
Pre-payment Applies to

Your Monthly Loan EMI: Rupee image 4,292

Monthly amount paid to your Loan provider

Break-up of all total amount payable
Loan Amount
25000Rupee image
Total Interest Due
756Rupee image
Processing Fee
500Rupee image
Loan Amount Via EMI
500Rupee image
Loan Amount Prepaid
500Rupee image
Total Interest
500Rupee image
Processing Fee
500Rupee image
Pre-payment Fee
500Rupee image
Total Amount Payable
26252Rupee image
Your loan details as specified by you
Loan Amount
25000Rupee image
6 Months
Interest Rate
Processing Fee
25000Rupee image

Your Amortization Details (Yearly/Monthly)

Your debt repayment schedule in regular instalments over a period of time.

Principal Paid Interest Paid Outstanding Loan BalanceO/S Balance(Without Pre-payment) O/S Balance(With Pre-payment)
Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance Pre-payment
Pre-payment Analysis

(We've broken it down for you!)

SummaryTotal AmountTenure
Without Pre-payment Rupee image 47,87,42610 yrs
With Pre-payment Rupee image 45,33,7238years 4months
YOU SAVE rupee0 YOUR TENURE REDUCED BY 1 years 8 months
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How to use's EMI calculator to understand your loan repayment

Know your EMIs in seconds with BankBazaar’s unique online financial tool - the EMI Calculator! Get a wealth of information pertaining to your loan payments in quick, easy steps to save time and money and make the most-informed choice to successfully meet your financing needs.

Simplify Loans with BankBazaar’s EMI Calculator:

BankBazaar’s EMI Calculator helps calculate the monthly instalments payable on any of your loans whether a personal loan, auto loan or home loan.

Calculating EMIs can be a tedious and confusing process. However, BankBazaar has an exceptional and simple EMI Calculator which lets you know the precise amount of your monthly EMIs instantly.

What BankBazaar’s EMI Calculator Can Do For You!

Help you arrive at EMIs in seconds - This calculator will help you calculate exactly how much money you need to pay towards your loan each month.

Simplify calculations - Determine EMIs accurately with minimal effort to reduce stress and confusion caused by tedious manual calculations.

Help plan your finances - Compare possible EMIs by varying the key loan parameters of tenure, amount and interest rate to determine which loan plan is the most affordable to you.

Be it a home loan, personal loan or car loan, now you can easily calculate your EMIs using this user-friendly tool offered by BankBazaar.

Using this calculator is very easy. All you need are the following loan details:

  • Loan amount - this is the amount you need to borrow
  • Interest rate - the interest rate for the chosen loan scheme
  • Tenure - the loan period
  • Processing Fee (if any) - the amount charged by the lender to process the loan
(If you don’t have this information at hand, you can obtain it navigating to your chosen bank’s loan page under the section ‘Select a product to begin’, featured under the calculator). Once, you have these details, use the sliders to set the required parameters for the loan amount and tenure. Then, input the interest rate and processing fee in the relevant boxes...

...and Voila!

The loan EMI calculator will instantly reveal your monthly EMI amount payable on the loan!

It will also provide a clear, graphic and tabular break-up of your loan repayments, using the EMI so calculated. In addition an amortization table is created which gives you a detailed overview of your repayment schedule. A cut above the rest, BankBazaar’s EMI Calculator delivers more than you expect.

BankBazaar has customised its EMI Calculator to suit different loan schemes. To calculate your EMIs on your personal loan, navigate to the Personal Loan EMI Calculator provided under the sites ‘Financial Tools’ section. Similarly, you can calculate EMIs on your auto and home loans using BankBazaar’s Car Loan EMI Calculator and BankBazaar’s Home Loan EMI Calculator, respectively.
Should you find yourself flush with cash, you may decide to prepay your loan (i.e. pay an extra amount towards principal). If so, you can calculate your new EMIs by adjusting for the amount you wish to prepay. This will let you know how much interest you save by reducing the principal outstanding. (interest is calculated on the principal outstanding)
Pick the most affordable loan by comparing EMIs for different loan tenures. This can be done by altering the loan period in the calculator; keeping the loan amount and interest rate the same. By lengthening the loan period for a chosen loan scheme, the EMI amount can be reduced. Using the calculator, you can quickly compare EMIs for different tenures and choose the one that most suits your budget.
Understand loan repayment schedules by altering the interest rate, keeping loan amount and tenure the same. In case of fixed rate loans, interest rates remain constant over the loan tenure. In this case, EMIs also remain constant. This is usually the case with car loans and personal loans. However, in case of floating rate loans, interest rates can vary with movements in market rates. In this case, EMIs will change. This is particularly beneficial for home loans. Input the new interest rate in BankBazaar’s EMI Loan Calculator to compare EMIs before interest rate changes and after. A new amortization schedule is also generated to reflect changes in EMIs.
EMI stands for Equated Monthly Instalment which is a fixed amount of payment a borrower has to make to the lender at a specified date on monthly basis. EMIs consists of your principal loan amount and interest amount, payable every month.
Although the EMI remains fixed for every month, the amount paid towards principal and interest changes. The interest component constitutes a major portion of the EMI payment in the initial stages. However, as the loan period progresses and the principal outstanding reduces, the portion of interest repayment decreases. This happens until the end of the loan period when the entire loan amount has been paid off.
The mathematical formula for calculating EMI = [P x R x (1+R) ^n] / [(1+R)^ n-1]. (P is the principal loan amount, R rate of interest per month and N is the the number of monthly instalments). Manual calculations are too complicated to perform accurately, which is why many borrowers are left confused after availing a loan. Understanding this pain-point led BankBazaar to develop one of the easiest and most user-friendly online Loan EMI Calculators.
You can view your loan amortization schedule at BankBazaar by using its EMI Calculator. A loan amortization table is a systematic and tabular display of your loan payment process. The table shows the break-up between the interest component and principal component of a particular EMI payment, enabling you to have a clear idea about the period of payment, interest and principal payments, and the outstanding loan amount over the entire loan tenure. This table can be very helpful for you, in case you want pre-close the loan.
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Further Reading

Top picks from our Financial Expert

News About EMI Calculator

  • TMB reduces base rate by 15 bps

    Posted on 28th May 2015

    Tamilnad Mercantile Bank, a leading private sector bank in south India, is the latest bank to join the bandwagon in lowering lending base rates. The bank announced a reduction in its lending rates by 15 basis points to 10.60 from June 1. The interest rates will apply to new as well as existing customers, provided the loans were availed on floating interest rate basis. This also applies to corporate and MSME borrowers.

  • Loans become cheaper at Corporation Bank

    Posted on 28th May 2015

    Public sector Corporation Bank, today announced a base rate cut of its lending rate by 0.25%to 10.0%, a release from the bank said. In its filing to Bombay Stock Exchange, the bank said it has brought down the lending rates from 10.25 to 10 percent. With this, all loans based on the lending rate will become cheaper and customers have to pay lower EMIs. After the repo rate cuts, some of the public and private sector banks have started reducing their lending rates.  While banks like SBI, Axis bank, ICICI Bank and HDFC Bank had reduced their lending rates by 0.25 percent last month, banks to follow suit this month are Punjab National Bank, Bank of Baroda, Corporation Bank and IDBI Bank.

  • Vijaya Bank brings down its base rate

    Posted on 22nd May 2015

    Following base rate cuts made by top banks across the country, including India’s largest lender SBI, Vijaya Bank reduced its base rate to 10% p.a. The reduction symbolises a 25 basis points cut. The effect of such reduction was felt the most among the bank’s loan customers especially home loan borrowers. Loans with interest rates pegged to the base rate saw a decrease in total interest payable and thereby a decrease in EMIs.

    Base rate cuts are in response to repo rate cuts introduced by RBI in recent times. With a reduction in inflationary pressures, RBI brought down repo rates i.e. the rate at which banks borrow. Owing to lower costs of funds, banks are now able to pass on the benefit to customers.

    More rate cuts are expected in coming times as economic development picks up and inflationary pressures are reined in. While borrowers cheer at the possibility of lower lending rates, especially those with floating rate loan, fixed deposit holders will feel the pinch as FD rates are also seeing reductions as a parallel outcome. Many banks, including SBI, have reduced FD rates.

  • Syndicate Bank to devise flexible EMI options on education loans

    Posted on 20th May 2015

    Syndicate Bank is looking into options to restructure loan EMIs payable by rural or low-income customers of education loans. It has been noted that those employed in low-income jobs, during the initial years of their career, face difficulty in making repayments.

    Under a proposed scheme, the EMIs for the first two years will be reduced or EMIs can be deferred so as to make the loan more affordable. Currently, banks look at educational loans that cannot be repaid on an individual basis and try to restructure the repayment schedule.

    Through such proposed schemes, Syndicate Bank is hoping to reduce NPAs. By making a loan affordable, the chances of default are lowered. Education loans form about 12% of Syndicate Bank’s loan book and accounted for 4% of the total NPAs.

  • Possibility of interest rate cuts in June

    Posted on 14th May 2015

    EMIs on housing loans, auto loans and other loans are expected to come down in June 2015. RBI is likely to cut interest rates in its bi-monthly monetary policy review scheduled in June. This move will result in banks cutting the lending rates for customers. RBI has cut repo rates by 50 basis points in two moves since January. The central bank is expected to cut interest rates by 50 basis points going forward.

  • SBH lowers base rate, home loan rates effective May 2015

    Posted on 07th May 2015

    Following recent repo rate cuts by the RBI, State Bank of Hyderabad (SBH) has lowered its base rate and home loans rates. The SBI associate bank brought down its base rate effective 1st May 2015 and brought down the interest rate on home loans effective 4th May 2015.

    The base rate which previously stood at 10.20% now stands at 10.05%. Home loan interest rates were reduced to 10.10% p.a. on loan amounts up to Rs.75 lakhs and to 10.15% p.a. on loan amounts over Rs.75 lakhs.

    RBI underlined the need for banks to lower base rates and lending rates in order to make further repo rate cuts amidst easing inflation. Banks were hesitant to lower rates and pass on benefits to customers citing high cost of funds making lending less profitable. However, leading banks across the public and private sector have moved to lower rates with many more to follow suit.

  • SBI’s Gold Loan Initiative for NRIs

    Posted on 04th May 2015

    SBI has added a special division as part of its NRI Branch at Vijayawada to disburse quick and affordable gold loans. Launched at this branch, the bank aims to provide gold loans to NRIs at affordable interest rates and EMIs. Lower interest rates allow borrowers to spread interest dues over a long tenure thereby paying lower EMIs. This would in turn facilitate demand for gold loans.

    SBI (State Bank of India) is India’s leading public sector bank and the country’s largest lender. SBI was the first bank to reduce its base rates following recent repo rate cuts by RBI. This has in turn prompted banks to lower interest rates on loans across different segments. While some banks are hesitating to reduce rates, leading banks like SBI, ICICI Bank and HDFC have already moved positively in this regard.

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How to use EMI calculator
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EMI Calculator
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