9/9/2014

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
EMI CALCULATOR

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EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Home Loan

Personal Loan

Car Loan

Featured Calculators & Articles

Multi-purpose Loan Calculator

Home Loan Amount

10,00,000

Budget 2014: Healing touch for the common

25L

50L

75L

100L

Interest Rate

10

home saver loan?

7.5

10

12.5

15

17.5

20

Years
Months

60

60

120

180

240

300

360

Monthly Payment (EMI)

21,247

Guaranteed Land Titles in India

SBI MaxGain Why should you choose this

Loan Tenure

man and realty sector

Break-up of Total Payment

21.56%

Total Interest Payable

2,74,823
78.44%

Total Payment
(Principal + Interest)

12,74,823

Principal Loan Amount

Total Interest

Compare loan rates from top banks side-by-side

Compare Rates & Apply for Home Loan

Schedule showing EMI payments starting from

http://emicalculator.net/

September 2014

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EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Principal

Interest

3,00,000

Balance

10,00,000

2,50,000

8,00,000

2,00,000

6,00,000

1,50,000

4,00,000

1,00,000

2,00,000

50,000

Year

Principal
(A)

Interest
(B)

Total Payment
(A + B)

19
20

20

20
18

17

16
20

20
1

20
15

EMI Payment / year

Balance

12,00,000

Balance

Loan Paid To Date

2014

52,304

32,684

84,988

9,47,696

5.23%

2015

1,67,745

87,219

2,54,965

7,79,951

22.00%

2016

1,85,310

69,654

2,54,965

5,94,641

40.54%

2017

2,04,715

50,250

2,54,965

3,89,926

61.01%

2018

2,26,151

28,814

2,54,965

1,63,775

83.62%

2019

1,63,775

6,201

1,69,976

100.00%

1.2k

What is EMI?

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Equated Monthly Installment EMI for short is the amount payable every month to the bank or any other financial institution until
the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of
principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to
be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each
payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly
EMI payment wont change, the proportion of principal and interest components will change with time. With each successive
payment, youll pay more towards the principal and less in interest.
Heres the formula to calculate EMI:

where
E is EMI
P is Principal Loan Amount
r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r
= 10.5/12/100=0.00875)

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EMI Calculator for Home Loan, Car Loan & Personal Loan in India
n is loan term / tenure / duration in number of months
For example, if you borrow 10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then EMI =
10,00,000 * 0.00875 * (1 + 0.00875)120 / ((1 + 0.00875)120 1) = 13,493. i.e., you will have to pay 13,493 for 120 months to repay the entire
loan amount. The total amount payable will be 13,493 * 120 = 16,19,220 that includes 6,19,220 as interest toward the loan.
Computing EMI for different combinations of principal loan amount, interest rates and loan term using the above EMI formula by
hand is time consuming, complex and error prone. Our EMI calculator automates this calculation for you and gives you the result in a
split second along with visual charts displaying payment schedule and the break-up of total payment.

How to use EMI calculator?

With colourful charts and instant results, our EMI calculator is easy to use, intuitive to understand and is quick to perform. You can
calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator.
Enter the following information in the EMI calculator:
Principal loan amount you wish to avail (rupees)
Loan term (months or years)
Rate of interest (percentage)
EMI in advance OR EMI in arrears (for car loan only)
Use the slider to adjust the values in the EMI calculator form. If you need to enter more precise values, you can type the values
directly in the relevant boxes provided above. As soon as the values are changed using the slider (or hit the tab key after entering the
values directly in the input fields), EMI calculator will re-calculate your monthly payment (EMI) amount.
A pie chart depicting the break-up of total payment (i.e., total principal vs. total interest payable) is also displayed. It displays the
percentage of total interest versus principal amount in the sum total of all payments made against the loan. The payment schedule
table showing payments made every month / year for the entire loan duration is displayed along with a chart showing interest and
principal components paid each year. A portion of each payment is for the interest while the remaining amount is applied towards
the principal balance. During initial loan period, a large portion of each payment is devoted to interest. With passage of time, larger
portions pay down the principal. The payment schedule also shows the intermediate outstanding balance for each year which will be
carried over to the next year.

Floating Rate EMI Calculation

We suggest that you calculate floating / variable rate EMI by taking into consideration two opposite scenarios, i.e., optimistic
(deflationary) and pessimistic (inflationary) scenario. Loan amount and loan tenure, two components required to calculate the EMI
are under your control; i.e., you are going to decide how much loan you have to borrow and how long your loan tenure should be.
But interest rate is decided by the banks & HFCs based on rates and policies set by RBI. As a borrower, you should consider the two
extreme possibilities of increase and decrease in the rate of interest and calculate how much would be your EMI under these two
conditions. Such calculation will help you decide how much EMI is affordable, how long your loan tenure should be and how much
you should borrow.
Optimistic (deflationary) scenario: Assume that the rate of interest comes down by 1% 3% from the present rate. Consider this
situation and calculate your EMI. In this situation, your EMI will come down or you may opt to shorten the loan tenure. Ex: If you avail
home loan to purchase a house as an investment, then optimistic scenario enables you to compare this with other investment
opportunities.
Pessimistic (inflationary) scenario: In the same way, assume that the rate of interest is hiked by 1% 3%. Is it possible for you to
continue to pay the EMI without much struggle? Even a 2% increase in rate of interest can result in significant rise in your monthly

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9/9/2014

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
payment for the entire loan tenure.
Such calculation helps you to plan for such future possibilities. When you take a loan, you are making a financial commitment for next
few months, years or decades. So consider the best as well as worst casesand be ready for both. In short, hope for the best but be
prepared for the worst!

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Featured Comment
Parag Mandhane

a year ago

Works as one wants it to work....Simple and easy

Great work guys
34

490 Comments

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Basil Joseph

2 years ago

great work...thanks
89
star

Reply Share

a year ago

E = P.r.(1+r)n/((1+r)n-1)
the above said formula is for calculating the emi. but if we dont the interest rate then what is the formula to calculate the
same example herebelow ?
http://emicalculator.net/

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same example herebelow ?

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

if EMI is 500.00 pm
principal is 10000.00
tenure is 24 months
then what is the formula to calculate interest rate ?
63

Reply Share

Poornima@EMICalculator

Mod > star a year ago

Here's the interest rate calculator: http://emicalculator.net/loan-...

Here's the formula: http://www.efunda.com/formulae...
5

Reply Share

ravi > Poornima@EMICalculator

8 months ago

thanks.. nice and easy EMI calculator

2

ranjan > star

Reply Share

a month ago

500=10000*r(1+r)24/((1+r)n-1) solve it and find the rate

interest rate is 18.1 %
1
Swetha

Reply Share

2 years ago

Sooper cool. Providing more details. Better than that of many bank websites in India.
52

Reply Share

Vipin Manchan

a year ago

its very clear..yaar maza aa gaya

30

Reply Share

MANOJ KUMAR

2 years ago

EXCELLENT
38

Reply Share

Ats Hansen

2 years ago

excellent...!!!
35

Reply Share

Parag Mandhane

a year ago

Featured by EMI Calculator

Works as one wants it to work....Simple and easy

Great work guys
34

Reply Share

Poornima@EMICalculator

Mod > Parag Mandhane a year ago

Thanks for the kudos

8

Sriman

Reply Share

a year ago

Awesome...Really good site

19

Reply Share

kaleeswaran

a year ago

super!!!!!! thanks
16

Reply Share

dharmendra

2 years ago

Excellent job
14

http://emicalculator.net/

Reply Share

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9/9/2014

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
UMESH KUMAR

a year ago

very helpful
thanks
13
om

Reply Share

a year ago

best emi cal

11

Avik C

Reply Share

a year ago

Simply superb..
11

shreyas

Reply Share

a year ago

incredible job...first time am able experience 100% advantage on WEB..

Good job highly appreciated!!!!
10
kalai

Reply Share

a year ago

superb
10

Bharat

Reply Share

a year ago

Great work
9

Reply Share

vineet khanna

a year ago

it is excellent tool to calculate your liability and helps a lot in finanacial planning.
9

Radhika

Reply Share

a year ago

Very good article ...

9
Ram

Reply Share

a year ago

efficient tool.thanks.
8
Iqbal

Reply Share

a year ago

Thanks..
Nice and Easy explanations...
8

Shashi

Reply Share

2 years ago

Really great work. :):)

8

Reply Share

abhishek agrawal

a year ago

good work
4

harish

Reply Share

2 years ago

I wanted one with months and got it :), else had to do lot of calculations in excel using the formula
4

Karesh

Reply Share

a year ago

Great tool! Thanks a lot...

8

Reply Share

Praveen Kumar

a year ago

Excellent
6

http://emicalculator.net/

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9/9/2014

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Shoib Khan

a year ago

this is the best tool for EMI calculations..Thanks to developers!!!! its saved lots of time....
6

Reply Share

Abhishek

a year ago

Nice work.. thanks

6

Sohil

Reply Share

2 years ago

Thanks and nice work

6

Reply Share

Balaji Aiyyankar

2 years ago

it is a superb tool, hardly takes any time, in a jiffy! fantastic!

6

Reply Share

Manohar Simhadri

9 months ago

Nice UI and very clear explanation... Great Work Guys :)

3

Reply Share

manish sharma

9 months ago

headache free calculation

3

Reply Share

Natarajan

a year ago

Great thanks
3

Abhilash

Reply Share

a year ago

Nice tool... Good work.. thanks

3

Indian

Reply Share

a year ago

Awesome tool! Very useful ..

3

Reply Share

Vipin Khatri

a year ago

very smooth, user friendly, awesome graphics...I always use this site for all emi calculations
3

Reply Share

Veera Pallati

a year ago

Excellent Tool.
Thanks
3

Bobby

Reply Share

a year ago

Outstanding :)
5
VINI

Reply Share

a year ago

EXCELLENT...........!!!! G8 THANKS
5

George

Reply Share

a year ago

Thank you. Awesome work.

5

Reply Share

SANTHOSH

a year ago

REALLY THANKS FOR THE CREATORS..DONE A WONDERFULL JOB..........

5

vivek

http://emicalculator.net/

Reply Share

a year ago

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9/9/2014

vivek

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

a year ago

excellent tool
5

Reply Share

Rahul Jadhav

a year ago

It is really helpful, Excellent work....

5
NK

Reply Share

a year ago

Best EMI Calculator ever seen

5

Reply Share

kapalavai pavan

a year ago

Easy to understand........good work

5

Dr.Katari

Reply Share

a year ago

very good...thank u so much

5

Reply Share

ashok mittal

a year ago

excellent
5

Reply Share

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Sash Hi, I get your logic about the home loan but in 10

years if you pay 44,31,000 in return for a 28,00,000 loan, the

value of the house would also have appreciated to

Lokesh Rai Hi Poornima, First of all thank you for your

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Ravi Good one... This really helps.... Analysis is mainly on

nitin very nice Sir! Thank You.

the important factors to be considered while taking a loan....

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