Loan Amount
Loan Amount:
Tenure in Months:
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: Rs 28,670

Monthly amount paid to your Loan provider

Break-up of all total amount payable
Loan Amount
Total Interest Due
Processing Fee
Loan Amount Via EMI
Loan Amount Prepaid
Total Interest
Processing Fee
Pre-payment Fee
Total Amount Payable
Your loan details as specified by you
Loan Amount
15 Years
Interest Rate
Processing Fee
Is your Credit Score good enough for getting a loan or card?

Your Repayment 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 47,87,42610 yrs
With Pre-payment Rupee 45,33,7238years 4months
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Personal Loan EMI

Let us assume that these are the details of your personal loan by using personal loan EMI calculator :

Loan amount Loan tenure Interest rate Processing fee Loan EMI
Rs.10 lakh 5 years 10.99% 2% Rs.21,737

Total amount payable

Total interest due Rs.3,04,246
Processing fee Rs.20,000
Loan quantum Rs.10 lakh
Total amount to be paid Rs.13,24,246

EMI breakup for a personal loan of Rs.10 lakh

Year Principal (in Rs.) Interest (in Rs.) Total of Principal and Interest (in Rs.) Outstanding Loan Balance (in Rs.)
2020 90,510 61,652 1,52,162 9,09,490
2021 1,69,254 91,597 2,60,851 7,40,236
2022 1,88,821 72,029 2,60,850 5,51,416
2023 2,10,649 50,199 2,60,848 3,40,766
2024 2,35,002 25,846 2,60,848 1,05,764
2025 1,05,764 2,923 1,08,687 0

The above calculation has been done assuming that you are not making any prepayments and the loan has been availed in the month of June 2020.

Home Loan EMI

Let us assume that these are the details of your home loan by using home loan EMI calculator :

Loan amount Loan tenure Interest rate Processing fee Loan EMI
Rs.40 lakh 10 years 9.75% 0.5% Rs.52,308

Total amount payable

Total interest due Rs.22,76,972
Processing fee Rs.20,000
Loan quantum Rs.40 lakh
Total amount to be paid Rs.62,96,972

EMI breakup for a home loan of Rs.40 lakh

Year Principal (in Rs.) Interest (in Rs.) Total of Principal and Interest (in Rs.) Outstanding Loan Balance (in Rs.)
2020 1,42,083 2,24,074 3,66,157 38,57,917
2021 2,63,101 3,64,597 6,27,698 35,94,816
2022 2,89,931 3,37,766 6,27,697 33,04,884
2023 3,19,496 3,08,200 6,27,696 29,85,386
2024 3,52,080 2,75,617 6,27,697 26,33,306
2025 3,87,983 2,39,713 6,27,696 22,45,322
2026 4,27,550 2,00,147 6,27,697 18,17,773
2027 4,71,150 1,56,546 6,27,696 13,46,623
2028 5,19,197 1,08,499 6,27,696 8,27,427
2029 5,72,141 55,555 6,27,696 2,55,284
2030 2,55,284 6,257 2,61,541 0

The above calculation has been done assuming that you are not making any prepayments and the loan has been availed in the month of June 2020.

Car Loan EMI

Let us assume that these are the details of your car loan by using car loan EMI calculator :

Loan amount Loan tenure Interest rate Processing fee Loan EMI
Rs.8 lakh 5 years 9.12% 2.5% Rs.16,653

Total amount payable

Total interest due Rs.1,99,199
Processing fee Rs.20,000
Loan quantum Rs.8 lakh
Total amount to be paid Rs.10,19,199

EMI breakup for a car loan of Rs.18 lakh

Year Principal Interest Total of Principal and Interest Outstanding Loan Balance
2020 75,722 40,852 1,16,574 7,24,278
2021 1,39,524 60,317 1,99,841 5,84,756
2022 1,52,793 47,049 1,99,842 4,31,964
2023 1,67,324 32,516 1,99,840 2,64,640
2024 1,83,238 16,602 1,99,840 81,401
2025 81,402 1,866 83,268 0

The above calculation has been done assuming that you are not making any prepayments and the loan has been availed in the month of June 2020.

How BankBazaar Personal/Home/Car Loan EMI Calculator Works?

The BankBazaar Equated Monthly Instalment Calculator is very easy to use. It uses some basic details of the loan that you are willing to avail. In the calculator, you will be required to provide the following details:

  • Adjust the slider on the top or type the loan amount.
  • Under the ‘Loan Amount’ slider, adjust the ‘Tenure’ slider or type in the loan repayment tenure that you are willing to avail.
  • Fill in the field provided for the rate of interest.
  • Fill in the field provided for the processing fee.
  • Check the box under these field, if you want to make pre-payments.
  • Hit the ‘Calculate’ button after entering all details.

After this, the BankBazaar EMI Calculator will process the details and show you ‘Your Monthly Loan EMI’ amount. In addition to this, the calculator will also display a detailed amortisation table for the loan. The actual loan amount, total due interest, and the processing fee are also calculated and displayed at the same time.

Effect of loan prepayment on your Instalment payments

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).

On the basis of the prepayment that you make and the terms and conditions of the loan-provider, you might be required to pay an extra amount in the form of prepayment charge or fee.

Factors that can impact your due amount

When you are planning to take a loan for your financial needs, you need to calculate the amount that you will have to pay through equated monthly installments in order to match with your repayment capability. For this, you will need to take a few factors under consideration which can be altered to meet your loan requirement and repayment capability:

  • Rate of Interest (ROI): The rate of interest of the loan that you are availing will contribute in determining the due instalment amount. The best way forward would be to compare different loan products and then choosing the one that serves you best. A lower rate of interest will mean that the overall amount that you pay towards interest will also be low.
  • Loan amount: The loan amount will also help in determining the overall EMI amount that you would have to pay. Thus, choosing the loan amount wisely is an important step.
  • When the term of the loan changes If a person manages to get his or her loan tenure extended or reduced, the Equated Monthly Instalment payable towards the loan will also increase or decrease accordingly in order to adjust to the new loan tenure. If you opt for a long tenure, you will have to pay more money towards interest in the long run. However, a shorter term of the loan will translate to less amount to be paid as interest but higher EMIs.

FAQs on EMI Calculator

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

    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.

  2. Is the Equated Monthly Instalment amount shown by the calculator the same as that which the bank will ask me to pay?

    When it comes to the EMI, assuming that the bank will approve the amount and tenure, the exact instalment 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 due amount.

  3. What happens if I fail to make an Equated Monthly Instalment payment?

    The bank will charge a penalty fee if a borrower misses an EMI payment. A missed or delayed instalment payment will reflect on your credit report. Not making loan due amount payments on time can have a negative effect on your credit score.

  4. Is my loan EMI fixed or can it change over the loan tenure?

    In the case of a business loan and home loan, banks offer floating rate of interest. Therefore, your loan instalment may change with the change in interest rate. Some banks allow you keep the Equated Monthly Instalment constant while increasing the loan tenure. Loan prepayment can also change your due amount. Banks will give you the option to either keep the EMI constant and decrease the loan tenure or reduce the Equated Monthly Instalment and keep the loan tenure the same.

  5. Is it good to pre-close a loan before the end of its tenure?

    Pre-closing your loan before the end of its tenure can have a negative effect on your credit score. Making timely due payments can help you improve your credit score. Therefore, opt to prepay a part of your loan (not the whole loan) and reduce the loan tenure to save up on interest payments. Banks charge a penalty fee for prepayment.

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Further Reading about EMI Calculator

Top picks from our Financial Expert

News About EMI Calculator

  • Rupee inches up by 8 paise against dollar

    Due to selling in American currency by exporters and bankers, the rupee inched up to 70.39 early Thursday. However, local currency opened at 70.53, down by 6 paise.

    The continuous rise in global crude oil prices led to the rupee to close at 70.47 on Wednesday, extending its loss by 25 paise. Speculation that talks between China and the United States ahead of the FOMC could resolve their stand-off led to the US paper dollar to rise yesterday against its major crosses.

    7 February 2019

  • Chances Present for Interest Rates to Reduce by 50 Basis Points

    According to the statements of the Managing Director and CEO of Kotak Mahindra Bank, Uday Kotak, during a panel discussion at India Business Leader Awards (IBLA) held in Mumbai on 17 January 2019, there might be chances that the rates of interest might fall by 50 basis points (bps). The Monetary Policy Committee is an independent body. However, the current trend of inflation prompts the need for the interest rates to come down and there is room for it as well.

    During the MPC meeting held in December 2018, the Reserve Bank of India (RBI) decided not to change the key policy rates in its fifth bi-monthly policy. Since the rates remained unchanged, the repo rate continues to stand at 6.50%, while the reverse repo rate remains 6.25%. The next monetary policy review meeting is scheduled to take place on 7 February 2019.

    Mr. Kotak also stated that several countries including the U.S. has started to realise that the 10-Year yield stands short at around 2.7% instead of the expected 3%-3.5%. Hence, the U.S. regulatory body is likely to keep the interest rates unchanged or increase them by a maximum of 25 basis points in 2019. Commenting on the ownership issue of banks, he further added that the next government should consider it seriously, and re-evaluate at the role of the state if needed.

    18 January 2019

  • Fixed Deposit rates revised by Bank of Baroda

    With effect from 14 January 1019, the fixed deposit rates have been revised by Bank of Baroda. Money can be deposited in fixed deposits over a specific period of 7 days to 10 years. Interest rates of fixed deposits are subject to change from time to time.

    The revised interest rates are 4.5% (7 days to 14 days), 4.75% (15 days to 45 days), 5% (46 days to 90 days), 5.75% (91 days to 180 days), 6.5% (181 days to 270 days), 6.5% (271 days to less than a year), 6.7% (1 year), 6.85% (Above 1 year and to 400 days), 6.8% (Above 400 days and less than 2 years), 6.7% (Above 2 years and less than 3 years), 6.7% (Above 3 years and less than 5 years), 6.7% (Above 5 years and less than 10 years), and 7% (444 days, only for Baroda Samriddhi Deposit Scheme). According to the Bank of Baroda’s website, branches may pay an additional interest for senior citizens of 0.5% for less than Rs.1 crore domestic term deposit.

    16 January 2019

  • GST relief likely for companies

    The GST returns that are mandated for carrying forward the tax credit for errors that are not IT related from the previous regime may now be able to be amended by businesses in India. A committee for the redressal of IT grievances has been directed by the GST Council to provide a quick solution to the problems. This is because of the denial of thousands of crores claimed by businesses as tax credit due to the errors in the filing of returns. This has prompted many companies to approach the judiciary.

    The government’s flagship scheme – the Pradhan Mantri Mudra Yojana – to support the country’s microenterprises has seen a spike in the non-performing assets (NPAs). The Reserve Bank of India (RBI) has raised a red flag about this. Bad loans to the amount of Rs.11,000 crore have been flagged.

    There might be a relaxation in the framework of Prompt Corrective Action (PCA) that has been a source of stress for the banking industry. This is expected to be worked out by the Reserve Bank of India and the finance ministry. This will be offered to those who have addressed bad loans in an improved manner.

    15 January 2019

  • Gold rates to be decided by dollar level and interest rates

    According to the World Gold Council, gold demand will be determined by dollar movement, monetary policy in key economies, and the performance of financial markets in 2019. Normally, during rough markets gold demand improves as it is considered to be a safe haven.

    Though there may be some obstacles from high interest rates and a strong dollar, the council expects gold to be an attractive option due to expansion of protectionist economic policies and increased market uncertainty.

    14 January 2019

  • Here Are All the Updates from SBI Tax Saving Instruments

    Traditional investment options have always been popular among most of the Indian public. One of these is the Fixed Deposit (FD) that not only serves as an opportunity for savings but also works as a tax saving instrument. In 2006, the State Bank of India (SBI) launched the SBI Tax Savings Scheme which offered customers FDs in order to save tax.

    The minimum deposit for an FD with SBI is set at Rs.1,000 and multiples of the same. The maximum deposit cannot exceed Rs.1.5 lakh if they wish to avail tax deductions under Section 80C of the Income Tax Act, 1961. The minimum tenure for an SBI FD is 5 years and the maximum tenure is 10 years.

    The rate of interest for the FDs under this scheme is similar to the interest for the regular FDs. For retail domestic term deposits less than Rs.1 crore the interest rate is 6.85% and 7.35% for senior citizens. The FD cannot be withdrawn before 5 years.

    10 January 2019

  • 100 bps reduction in interest rates needed

    Federation of Indian Chambers of Commerce and Industry (FICCI) President Sandip Somany has said high interest rates need at least a 100 basis points cut as they are a hurdle to investments. He further added that due to the low inflation present now, a massive cut in interest rates is most important to trigger economic growth.

    Somany, who recently assumed charge of the apex industry chamber, also said that interest rates are at historic highs in India, and the low inflation present now does not justify it.

    7 January 2019

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