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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.

Tab amortization
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

What is an EMI?

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.

Everything You Need to Know About EMI Calculator

Consider a situation where you have decided that you are going to take a loan, be it a personal, car or a home loan. The first step with taking the loan is not applying for it but actually sitting down and calculating how much it is going to cost you. This cost is calculated in terms of the monthly payments that will have to be paid towards the loan and are referred to as EMIs or Equated Monthly Instalments.

To get to the EMI you basically need to calculate the amount borrowed, the interest that you will have to pay on the amount and the amount that you will pay as the processing fee for said loan. Once have all this information, you will have to sit down with a pen and paper to see how much the monthly payment will be for your chosen loan tenure. Once that is done, you may realise that the EMI is too big and you need to reduce it somehow. To do this you will either have to adjust either the loan tenure or the amount that you wish to borrow and do the calculations all over again.

Once you have the right EMI for you, you will start looking at other banks or financial institution that offer you these loans and will realise that you have to repeat the same calculation for each bank and make sure that you make no mistakes. Just reading about this process is so tiring that you will wish there was an easier way to do this whole exercise quickly and efficiently so that you can make your decisions fast and THAT is where the EMI calculator comes into the picture.

To put it quite simply, an EMI calculator is a tool that will require you to enter the amount you want to borrow, the duration of the loan, the interest rates and the processing fee and it will do the rest. The basic formula that works behind an EMI calculator is:

E = P x r x (1+r)^n/((1+r)^n – 1)


  • E is the amount that you will have to pay every month; basically the EMI.
  • P is the amount that you want to borrow.
  • r is the rate of interest that is applicable but calculated on a monthly basis instead of the annual rate of interest. It is obtained by using the formula r = (annual interest/12) x 100.
  • n is the duration of the loan in terms of months. So if you select a term of 5 years, n will be 60.

This is the most basic formula that will be used by the calculator but there are some that may even include things like the processing fee for the loan, into the calculation of the monthly instalment. The processing fee will generally be a certain percentage of the amount being borrowed and can range from 1% to 3% but since it is decided by the bank it can be different for each bank.

There are three parts to the information that the calculator provides. The first is the EMI itself, the second a breakup of the payments due and the third the amortisation table.


The EMI or the Equated Monthly Instalments are the amount that you can expect to pay if you go in for a loan. It includes payments of the principal and the interest that is applicable on the loan. It is the most important information that the calculator provides since the EMI is at the basis of the decision about the affordability of the loan.

The breakup

The breakup is a breakup of the entire amount that you will pay to the bank or the financial institution. It will tell you the amount that will be paid back as the principal and the amount that will be paid as the processing fee for the loan. It will also tell you how much of the repayment will be the interest on the loan.

Amortisation tables

The amortisation table is a snapshot of the progression of the loan and tells you how much you will have paid back at the end of each year, as the loan progresses. It also helps you understand how the interest on the loan will be paid back. It also shows you how much of the initial EMIs will be the interest and how much will be the principal.

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.

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.

Home loan EMI calculator

The home loan EMI calculator comes packed with features that can range from the obvious to the not so obvious. It, obviously, shows the exact EMI that will be payable every month for a specific amount borrowed and a specific tenure. The feature that are not so obvious is the fact that this calculator can also provide the facility to include planned pre-payments towards the home loan. This means that when the calculator shows you the instalments payable, it has already accounted for prepayments and has also included them when showing the breakup of the expenses. The detailed break up will include the amount borrowed, the interest payable, the amount you will pay through prepayment, the processing fee and the fee for prepayment.

Car loan EMI Calculator

The car loan calculator is a tool that can be used to calculate the exact amount that you will have to pay on a monthly basis when you decide to take a car loan. This calculator too will collect information related to the amount you wish to borrow, the interest rates, the processing fee and the tenure of the loan and provide you with the amount that you will pay every month. Down payments for the vehicle don’t have to be considered when using this calculator and it too comes with the breakup of the expenses and the amortisation table.

Personal loan EMI calculator

The personal loan EMI calculator is the ideal tool for deciding how much you can afford to pay back since it is specific to personal loans. It too collects details of how much you wish to borrow, the duration, interest rates and the processing fee for the loan. It can also be customised to take into account any prepayments that you intend to make before telling you the EMI that you will have to pay.

Now that we know its types and how the EMI calculator works, let’s take a look at some of the features and benefits that EMI calculators have to offer.


There can be no denying the ease with which the calculations can be made with this tool. It offers that convenience of calculations that can be done in mere seconds that help you compare the offerings of various banks and reach decisions without wasting much time.


If you were to sit down with a pen and a paper, every time you vary the interest rates, tenures, amounts to borrow, you run the risk of making mistakes. When you add multiple banks to the mix the chances for errors can be disastrously high and that is where the accuracy of the calculator comes into play.

Speedy calculation:

With a pen and paper you could spend hours on end doing calculations and then checking and re-checking them. With this tool you could do all sorts of calculations within seconds. Which means that you can explore all the options of tenures, amounts that can be borrowed and interest rates without having to worry about how long it will take.

Specific to each loan:

There is no denying that while at the base of it, most loans follow the same principles but there are certain nuances that separate one loan from another and these EMI calculators come adjusted for such nuances. This means that a home loan EMI calculator will give you precisely the kind of information need to decide on a home loan and so will a personal loan EMI calculator.

Graphic representation of amounts paid:

These calculators don’t just give you an idea of how much you will have to pay on a monthly basis, many of them also provide graphic representations in the form of pie diagrams. These diagrams will show you the total amount that you will pay by the time the loan is fully paid up. It will also show you that of the amount you pay, how much will be the principal, how much the interest and how much will be spent of the processing fee.

Amortisation tables:

Amortisation tables form an important part of any EMI calculator since it is the one table that will show you the future. What is does is to show you how the loan will progress over time and will also show you how much you will have paid back each year of the loan, in terms of the principal and the interest.

Apart from the online calculators, EMI calculators can also be configured in an Excel sheet. To do this you will need to know the formula that makes an EMI calculator works and also how to use formulae in excel sheets. The one disadvantage of the excel sheet calculator is that you need to know how to configure it and also need to input the interest rate after calculating the monthly rates. It also does not take into account the processing fee. By contrast, the online EMI calculator can take the interest rates as annual rates and convert them to monthly rates on its own. It can also include the processing fee and other smaller features like prepayments.

Loans generally come with tree different types of interest rates; the fixed interest rate, the floating interest rates and a combination of the two. With the fixed interest rates, the EMI will always remain the same since nothing changes with such a loan in relation to the interest rate which means that the EMI calculators also is pretty simple and straightforward. With the floating interest rate, or interest rates where a one part is fixed and the other floating, the EMI calculators are not so simple to build. This is so because future interest rates cannot be predicted and hence a definite EMI cannot be determined for such loans. In such cases, the EMI will actually change every month.

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.

Q. Are the calculators for home, car and personal loans the same?

A. In most cases they can be the same since all three loans work off the same basic set of information like amount borrowed, prepayments, tenure, interest rates and processing fee however with some calculators there could be a restriction placed on the amount to borrow based on the type of loan.

Q. Are calculators more accurate than excel sheets?

A. The only difference between the two is that with a calculator, it is a ready to use tool whereas with an excel sheet, you may have to program the calculator before you start using it. Such programing can be a little tedious and complicated, especially if you are not very comfortable with the software which makes the calculator the preferred choice.

Q. Will banks provide the calculator?

A. Yes. These days most, if not all, banks have calculators, specific to various loans, available on their websites.

Q. Why should I use an EMI calculator?

A. The simplest answer is that it’s fast and it’s convenient. This means that you can do multiple calculations in minutes where such calculations many take longer were you to sit down with a pen and paper. These calculators are also super accurate so it eliminates the possibility of errors in calculations, provided you provide accurate data.

Q. Is the EMI shown by the calculator the same as that which the bank will ask me to pay?

A. When it comes to the EMI, assuming that the bank will approve the amount and tenure, the exact EMI that you will have to pay may differ slightly since there is a chance that things like the interest rates and the processing fee may be a bit different from what you used while calculating the EMI.

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Further Reading about EMI Calculator

Top picks from our Financial Expert

News About EMI Calculator

  • Banks withhold rate cut because of liquidity issues

    Posted on 26th May 2016

    Liquidity in the hands of banks is a major reason why they are not able to implement the rate cut changes suggested by the Reserve Bank of India. Despite cash injection in the financial system by the RBI, banks still do not have enough cash on their hands to bring down interest rates drastically.

    Since the beginning of 2015, RBI has cut rates several times to bring them down by around 150 basis points. However, the rate cut in the lending rates of banks has been less than half of this. One important reason for this is that banks think that there is not enough cash liquidity in their hands to lower rates and lend more freely. RBI has already pumped over Rs.60,000 crore in the market and it believes that this is enough liquidity for banks to implement rate cuts.

  • Banks not cutting rates despite support from RBI

    Posted on 25th May 2016

    Since last year, the RBI has cut 150 basis points (bps), but despite this, the banks in the country maintain that they are unable to cut lending rates further. This does not help the existing problem that is the private investments being as weak as they are, and does not help revive them.

    The banks claim that the market does not have the level of liquidity that’s necessary for them to be able to lend at lower rates (and still maintain their own liquidity requirements). The RBI is expected to leave the rates on hold during its policy review on the 7th of June this year. The main issue during the review is expected to be the fact that banks are still unable to lend at lower rates despite the fund injections that have been introduced to erase the cash deficit. The committee will also meet and discuss how to ensure that the aggressive rate cuts over the last year will be fed through the economy.

  • Maharashtra government waives interest on crop loans

    Posted on 24th May 2016

    With drought affecting crops across Maharashtra, the state government recently announced a plan to help farmers burdened by debt. As per the decision, interest on restricted crop loans will be waived off for the first year, offering financial relief to farmers who have been unable to repay their loans. No interest will be charged for the first year, while interest for the remaining years will be reduced to half. This essentially means that farmers will now have to pay 6% interest on restructured crop loans, with the government paying the remaining interest.

    Three continuous years of drought have had a major impact in the state, with a number of farmers resorting to suicide on account of inability to repay loans. This new initiative is bound to provide impetus to the farming community, with the government hoping to offer relief to around 80% of farmers in Maharashtra.

  • MCLR : The new way of lending for banks in India.

    Posted on 23rd May 2016

    With the Reserve Bank of India (RBI) introducing the Marginal Cost of Funds based Lending Rate (MCLR), home loan customers can now benefit by getting lower interest rates. Banks will have to link their lending rates for new loans to MCLR, which will serve as the benchmark rate. Existing loans will continue to be linked to the base rate. As per the RBI mandate, banks will have to release five MCLR rates, i.e., daily, monthly, quarterly, half-yearly and on an annual basis. Banks will be able to choose their reset periods, but will have to provide rates on a monthly basis. The MCLR system will apply only to banks and not for Non-banking Finance Companies. Customers opting for new loans should always compare the MCLR and the spread offered, before zeroing in on a loan scheme.

  • Bandhan Bank still cautious about lending

    Posted on 19th May 2016

    Bandhan Bank started off as a microfinance institution in 2001. Since its humble beginnings, the bank has grown immensely and is now a full-fledged bank. However, it is still cynical of moving away from its roots of giving tiny loans to the poor.

    In the past months until 31st March, Bandhan Bank has built up a loan book of Rs.15,493 crore (including legacy assets). However, it has only lent Rs.156 crore to customer segments who are unknown to the bank earlier. since 23 August of last year, the bank has registered a net profit of Rs.275 crore on total revenue of Rs.1,082 crore.

  • Indian Bank’s interest rate on vehicle loans and home loans cut down

    Posted on 17th May 2016

    Indian Bank is a state owned financial company based in Chennai. For home loans up to the amount of Rs 75 lakh, Indian bank has cut it’s interest rates from 9.65% to 9.55%. If the amount is more than Rs 75 lakh, the bank’s interest rate has been cut from 9.90% to 9.75%. Vehicle loans’ interest rate has been reduced from 10.15% to 9.95%.

    The bank has also reduced EMI. EMI for home loan has been reduced to Rs 935 per lakh and EMI for car loan has been reduced to Rs 1,658 per lakh.

    The bank has also initiated a dedicated "IndRetail" vertical in order to make processing of the loans quick and hassle free.

  • FCNR Maturities Likely To Cause Interest Rate Cut Delays

    Posted on 16th May 2016

    The softer interest rate regime is likely to pose a challenge for the Reserve Bank of India, in terms of cash / liquidity management. This could be the result of the substantial fund flows which are likely to create a vacuum between the months of September to November in 2016.

    A report published by the State Bank of India has estimated that the system might lose up to an approximate of Rs 99,000 crore due to a special scheme known as the Foreign currency Non-resident banks, which was launched about 3 years ago with the objective to keep a check on the free fall of the Rupee against the Dollar. In an effort to eliminate any causes which may adversely affect rate transmission, the RBI could possibly take the route of holding open market operations of buying bonds in order to pump cash into the system. Additionally, banks’ deposit base could further suffer on account of FCNR (B) maturities. Growth of deposits has been an on-going challenge for banks, considering that customers are opting for various other high-yield debt options. The current growth rate, which is currently at 10.1% year-on-year, is reported to be the lowest in five decades.

  • Lending rates might get reduced by 50 bps

    Posted on 12th May 2016

    Indian Banks are expected to reduce their lending rates by up to 50 basis points before September 2016 according to a Bank of America Merrill Lynch report. Sufficient liquidity in the market might increase the supply which would lead to a rate cut. The Reserve Bank of India is also expected to go slow on liquidity to help the recovery process. According to the Central Bank, RBI might cut the rates by 25 bps in August. With this reduction around the corner, the industry might see further cuts happening to increase the number of investments.

  • Congress urges the RBI to Look into the issue of Rate Cuts

    Posted on 5th May 2016

    Congress has raised an issue of banks not passing the repo rate cut benefits to customers. The Reserve Bank of India had reduced the repo rate by 150 basis points but customers have received benefits only in the range of 60 to 70 points. Reddy also urged the finance minister and the RBI to look into the rate cut matter and ensure that customers get complete benefits out of RBI rate cuts.

    Repo rate cuts mean car loans and home loans get cheaper. If you are planning to avail a loan, make sure you use the EMI Calculator to plan your budget in advance.

  • SBI has decided to cut rates by 5 bps

    Posted on 4th May 2016

    The RBI had cut its key policy repo rate by 25 basis points, and now in its April policy, State Bank of India has decided to cut its marginal cost of funds-based lending rate (MCLR) by five basis points, across tenures. But if, as a home loan borrower, you might want to wait before you start celebrating the prospect of lower EMIs. This reduced rate is only applicable for new home loan borrowers (New home loan borrowers with effect from May 1st). Its also noteworthy that the reduced rate of 9.4 per cent from 9.45 per cent only means ?150 monthly savings on a ?50 lakh loan for 15 years.

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