Loan Calculator
Calculate EMI for home loans, car loans, personal loans, and business loans. Get detailed payment schedule and interest breakdown.
Loan Details
Payment Schedule (First 12 Months)
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| Note: Showing first 12 months only. Download full schedule for complete details. | ||||
Interest Rate Comparison
| Interest Rate | Monthly EMI | Total Interest | Savings vs 8.5% |
|---|
Smart Loan Tips
A 0.5% lower interest rate can save you ₹1.3 lakhs over 20 years. Consider negotiating for better rates or increasing your down payment.
Types of Loans
Home Loan
For purchasing, constructing, or renovating residential property. Longest tenure with tax benefits.
Tenure: Up to 30 years
Tax Benefit: Up to ₹2 lakhs under Section 24(b)
Max LTV: 75-90%
Car Loan
For purchasing new or used vehicles. Shorter tenure with quick processing.
Tenure: 1-7 years
Down Payment: 10-20% minimum
Max LTV: 80-90%
Personal Loan
Unsecured loan for personal expenses like medical, education, wedding, or travel.
Tenure: 1-5 years
Processing Fee: 1-3%
No Collateral: Unsecured
Business Loan
For business expansion, working capital, equipment purchase, or startup funding.
Tenure: 1-10 years
Documentation: Business plan required
Collateral: May be required
About Loan EMI Calculator
The Loan Calculator helps you calculate Equated Monthly Installment (EMI) for various types of loans. It shows the breakdown of principal and interest components, total interest payable, and provides a detailed amortization schedule.
How EMI is Calculated
P = Principal Loan Amount
R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
N = Loan Tenure in Months
Key Components of Loan EMI
Principal Amount
The actual loan amount borrowed, excluding interest.
Interest Rate
The cost of borrowing, expressed as a percentage of the principal.
Loan Tenure
The duration over which the loan will be repaid.
EMI
Fixed monthly payment comprising principal and interest.
Benefits of Using Our Loan Calculator
- Accurate Calculations: Precise EMI calculation using standard financial formulas
- Multiple Loan Types: Supports home, car, personal, and business loans
- Detailed Breakdown: Shows principal vs interest distribution
- Amortization Schedule: Complete payment schedule for entire loan tenure
- Comparison Tool: Compare different interest rates and tenures
- Prepayment Analysis: Calculate savings from early loan closure
Tips for Better Loan Management
Compare Interest Rates
Compare rates from multiple banks before finalizing your loan.
Make Higher Down Payment
Higher down payment reduces both loan amount and total interest.
Opt for Shorter Tenure
Shorter tenure means less total interest despite higher EMI.
Use Prepayment Options
Make prepayments whenever possible to reduce interest burden.