Accurate Loan EMI Calculator
Select your loan type below. Get instant monthly EMI estimates, detailed amortization schedules, tax saving insights, prepayment savings, and bank comparisons in any global currency.
Home Loan Calculator
Calculate monthly installments with down payment & tax benefits
Simple interest accrued during moratorium: ₹10,00,000 (Added to loan principal before EMI repayment starts).
Breakdown Visual
Principal vs InterestHome loan borrowers can claim tax relief on interest paid and principal repayments under local tax codes (e.g., Sec 24b & 80C in India).
Amortization Schedule
Year-by-year payment timeline breaking down principal vs interest decay
| Period | Opening Balance | EMI Paid | Principal | Interest | Closing Balance |
|---|
Side-by-Side Loan Comparison
Compare interest rates, tenure variations, and see exactly how much you save
Offer B saves you more!
By choosing Offer B, your EMI decreases by ₹788/mo and total interest savings is:
Prepayment Impact Simulator
See how adding extra monthly or annual payments slashes your loan tenure and interest burden
Loan Eligibility Checker
Calculates your maximum eligible loan amount based on income and standard 50% FOIR (Fixed Obligation to Income Ratio)
Frequently Asked Questions
How is Loan EMI calculated mathematically?▼
Loan EMI is calculated using the standard reducing balance formula: E = P × r × (1+r)^n / ((1+r)^n - 1), where P is Principal Loan Amount, r is monthly interest rate (annual rate divided by 1200), and n is total number of monthly installments.
What is the difference between Floating and Fixed Interest Rates?▼
Fixed interest rates remain constant throughout your loan tenure. Floating interest rates are linked to central bank benchmark rates and fluctuate over time, affecting either your monthly EMI amount or loan tenure.
Are there prepayment penalties on loans?▼
Most modern consumer protection rules (including RBI guidelines) prohibit lenders from charging prepayment penalties on floating interest rate home loans taken by individual borrowers.
How does global currency selection work?▼
You can select your native currency (INR, USD, EUR, GBP, AUD, CAD, AED, SGD, JPY) in the top header. The calculator formats figures according to local currency standards.
Complete Guide to Auto & Car Loan Finance
Financing a vehicle requires balancing monthly budgets against total interest expenditure. Using our Car Loan EMI Calculator allows you to evaluate down payment variations, compare new vs. used car interest rates, and structure 3 to 7-year payment terms.
On-Road vs Ex-Showroom
Auto loans often cover ex-showroom prices or up to 90% of total on-road costs including registration and insurance.
EV Incentives
Electric vehicle loans frequently qualify for discounted interest rates (0.5%–1% lower) and government green tax credits.
Depreciation Aware
Cars depreciate quickly. Selecting shorter tenures (3-5 years) prevents negative equity where loan balance exceeds market value.