EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan over a set period.

How is EMI calculated?

EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.

Does a higher tenure reduce EMI?

Yes, a longer tenure reduces the monthly EMI but increases the total interest paid over the loan period.

What is a good home loan EMI per lakh?

At 9% per annum for 20 years, the EMI is approximately ₹900 per lakh. For ₹20 lakh, that is ₹18,000/month. For ₹50 lakh, that is ₹45,000/month.

Should I choose a shorter or longer loan tenure?

A shorter tenure means higher EMI but much less total interest paid. A longer tenure lowers your monthly EMI but increases the total interest cost significantly. Use this calculator to compare both options.

Which is better — lower interest rate or shorter tenure?

Both reduce total cost. A 1% reduction in interest rate on a ₹50 lakh 20-year home loan saves approximately ₹7 lakh in total interest. Reducing tenure from 20 to 15 years saves approximately ₹12 lakh. Combining both has the greatest impact.

EMI Calculator — Home Loan, Car Loan & Personal Loan EMI

Calculate EMI for home loans, car loans, and personal loans. See monthly instalment, total interest, and principal vs. interest breakdown. Free online EMI calculator for Indian bank loans.

Loan Amount ($)

Annual Interest Rate (%)

Loan Tenure

$4,339.12

Monthly EMI

$541,387.88

Total Interest

$1,041,387.88

Total Payment

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What is EMI Calculator?

An EMI (Equated Monthly Instalment) calculator helps you calculate the fixed monthly amount you will pay to repay a home loan, car loan, or personal loan from any Indian bank (SBI, HDFC, ICICI, Axis, Kotak, and others). Enter your loan amount in rupees, the annual interest rate offered by your bank, and the loan tenure in months. The calculator instantly shows your EMI, the total interest you will pay over the full tenure, and a pie chart breaking down principal versus interest. Most Indian bank home loan rates range from 8.5% to 10.5% per annum — try different rates to compare offers.

How to Use EMI Calculator

1Enter the loan amount in rupees (e.g. ₹20,00,000 for a ₹20 lakh home loan).
2Enter the bank's annual interest rate (e.g. 9% for SBI home loan).
3Enter the loan tenure in months (e.g. 240 months for a 20-year home loan).
4Your monthly EMI is calculated instantly.
5View the total interest payable and the principal vs. interest pie chart.

Key Features

EMI calculation for home loans, car loans, and personal loans
Supports amounts in lakhs and crores
Total interest payable over full loan tenure
Principal vs. interest breakdown chart
Compare EMI across different tenures

Benefits

Know your exact EMI before applying to an Indian bank
Compare home loan offers from SBI, HDFC, ICICI, and others
Decide between shorter tenure (less interest) vs. longer tenure (lower EMI)
Plan your monthly household budget around your loan EMI

Use Cases

Calculate EMI EMI vs Loan Calculator

Why Use Irreva for EMI Calculator?

Know your exact EMI before applying to an Indian bank

Compare home loan offers from SBI, HDFC, ICICI, and others

Decide between shorter tenure (less interest) vs. longer tenure (lower EMI)

Runs 100% in your browser — files never leave your device.

No account, no sign-up, no subscription — free forever.

Works on any device: desktop, tablet, or mobile.

Frequently Asked Questions

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