๐ Loan EMI Calculator
Plan your Home, Car & Personal Loans
Your Monthly EMI is
₹0
Principal Amount:
₹0
Total Interest Payable:
₹0
Total Payment (Amt + Int):
₹0
How to Calculate Loan EMI?
An Equated Monthly Installment (EMI) is the fixed amount you pay to the bank every month to repay your loan. This calculator helps you plan your budget before applying for a loan from HDFC, SBI, Axis, or ICICI Bank.
Types of Loans Calculated
- Home Loan: Usually 15-30 years tenure. Current rates approx 8.5% - 9.5%.
- Car Loan: Usually 3-7 years tenure. Rates approx 9% - 11%.
- Personal Loan: Short term (1-5 years). Rates higher at 10% - 16%.
EMI Calculation Formula
The mathematical formula for calculating EMI is:
E = P x R x (1+R)^N / [(1+R)^N-1]
Where P is Principal Loan Amount, R is monthly interest rate, and N is loan tenure in months.
Note: This tool provides an estimate. Actual bank EMIs may vary slightly due to processing fees or pre-payment charges.