Calculate your monthly loan payment for Home, Car, Personal or Business loans. See total interest, amortization schedule and principal split — instantly.
✓ Home / Car / Personal Loan✓ Amortization Schedule✓ Principal vs Interest Split✓ Live Calculation
Choose from Home, Car, Personal, Business or Education loan. The calculator auto-fills the typical interest rate — you can adjust it to match your lender's offer.
Enter Loan Amount & Rate
Enter the loan principal you need. Input the interest rate quoted by your bank (reducing balance rate — all Indian banks use this method). Results update live as you type.
Set Loan Tenure
Enter the loan tenure in years or months. Longer tenure = lower EMI but higher total interest. Compare different tenures to find the optimal balance.
Read Your Results
See your monthly EMI, total interest, and the principal vs interest split bar. The amortization table shows year-wise breakdown of how your loan is paid off.
Current Loan Interest Rates India 2026
Loan Type
Rate Range (p.a.)
Max Tenure
Key Feature
Home Loan
8.35% – 9.50%
30 years
Repo-linked floating rate
Car Loan
8.75% – 12.00%
7 years
Secured against vehicle
Personal Loan
10.50% – 18.00%
5 years
No collateral required
Business Loan
10.00% – 16.00%
7 years
Based on business vintage
Education Loan
8.50% – 13.00%
15 years
Moratorium during study
Rates are indicative. Actual rates depend on credit score, income, lender policy, and RBI repo rate.
★★★★★
"Used this before buying my home. Could instantly see how ₹10 lakh more down payment saves ₹8 lakh interest over 20 years. Life-changing clarity."
Sandeep Kumar — Home buyer, Pune
★★★★★
"The amortization table is excellent — I could see exactly how much principal I'd repaid at any point. Used it to plan my prepayment strategy."
Kavitha Rajan — Software engineer, Bangalore
★★★★☆
"Best free EMI calculator I've found. Clean interface, no ads. The processing fee feature is a nice touch that most calculators miss."
Amit Bose — Business owner, Kolkata
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EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P = principal, r = monthly rate (annual rate ÷ 12 ÷ 100), n = months. For a ₹50L home loan at 8.5% for 20 years, EMI ≈ ₹43,391. Indian banks use the reducing balance method — interest is computed on the outstanding balance each month.
What is a good EMI to income ratio?+
Keep total EMI obligations below 40–50% of monthly take-home salary. Most banks cap the FOIR (Fixed Obligation to Income Ratio) at 50–55% for loan approval. For home loans specifically, a 35–40% ratio leaves comfortable headroom for other expenses.
How can I reduce my home loan EMI?+
Options: (1) Larger down payment — reduces principal and thus EMI; (2) Longer tenure — reduces EMI but increases total interest; (3) Negotiate lower rate — even 0.25% reduction saves lakhs; (4) Part-prepayments — reduces outstanding principal and future interest. Most banks allow part-prepayment free after 6 months.
Is home loan EMI tax deductible?+
Yes. The principal component of EMI is deductible under Section 80C (up to ₹1.5L per year). The interest component is deductible under Section 24(b) — up to ₹2L for self-occupied property, or unlimited for let-out property. Together, a home loan can save ₹1–1.5 lakh in taxes annually.
What happens if I miss an EMI payment?+
Missing an EMI results in: (1) late payment penalty (typically 1–3% per annum on overdue amount); (2) negative CIBIL score impact; (3) possible NPA classification after 90 days. Always contact your lender proactively — banks often offer EMI moratorium, restructuring, or holiday options for genuine hardship.
What is the difference between flat rate and reducing balance EMI?+
In flat rate, interest is on original principal throughout (expensive). In reducing balance (standard for all Indian banks), interest is only on outstanding balance — it decreases as you repay. A flat rate of 10% equals ~18–19% reducing balance. Always ask for the reducing balance rate when comparing.
Should I choose floating or fixed home loan rate?+
Floating rate loans are linked to the repo rate (RBI). When rates fall, your EMI reduces automatically. Fixed rate loans offer certainty but are typically 1–2% higher. In a falling interest rate cycle (as in 2024–26), floating rate loans are generally more beneficial for long-tenure home loans.