₹
%
₹
Loan EMI
₹0.00
Loan APR
0 %
Total Interest Payable
₹0.00
Total Payment
(Principal + Interest + Fees & Charges)
₹0.00
Break-up of Total Payment
Principal
Interest
Fees & Charges
Schedule showing EMI payments starting from
| Year | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|---|---|---|---|---|
| ▸ 2025-26 | -₹79,288.08 | ₹79,288.08 | ₹0.00 | ₹10,79,288.08 | -7.93% |
| ▸ 2026-27 | -₹1,30,873.75 | ₹1,30,873.75 | ₹0.00 | ₹12,10,161.82 | -21.02% |
| ▸ 2027-28 | -₹1,46,743.41 | ₹1,46,743.41 | ₹0.00 | ₹13,56,905.23 | -35.69% |
| ▸ 2028-29 | -₹1,64,537.42 | ₹1,64,537.42 | ₹0.00 | ₹15,21,442.65 | -52.14% |
| ▸ 2029-30 | -₹1,84,489.11 | ₹1,84,489.11 | ₹0.00 | ₹17,05,931.76 | -70.59% |
| ▸ 2030-31 | -₹66,340.11 | ₹66,340.11 | ₹0.00 | ₹17,72,271.88 | -77.23% |
Important Tips
- • EMI should not exceed 40-50% of your monthly income
- • Consider prepayment options to reduce interest burden
- • Compare interest rates from multiple lenders
- • For accurate calculations, please contact our loan experts
Benefits Of Using Loan EMI Calculator
- Understand how much you can afford to borrow for your loan
- Decide whether to choose a long-term or short-term loan based on your situation
- Estimate how much to contribute as a down payment toward any loan
- Plan your finances for timely and stress-free repayment
Loan EMI Calculation Formula
You can calculate your loan EMI manually using the standard loan EMI formula:
EMI = [P × R × (1+R)N] ÷ [(1+R)N - 1]
- P: Principal amount (the amount you borrow)
- R: Interest rate (per month)
- N: Number of monthly installments (loan tenure in months)
Manual calculation can be complex and error-prone. Use a reputable online Loan EMI Calculator for fast and accurate results. Just enter the loan amount, interest rate, and tenure to see the EMI, total interest, and the total amount payable.
Charges Applicable on Missing Loan Installment(s)
If for any reason you miss your loan EMI payment on time, you might have to pay additional charges:
- Bounce/Auto-debit failure charges: Charged if your EMI payment fails due to insufficient account balance or if the account used for EMIs is closed. This is usually a fixed charge for each failed automatic deduction.
- Late payment charges: Can be a fixed amount or a percentage of the overdue EMI.
- Penal interest charges: Applied to the unpaid EMI amount for any loan. This charge is usually a fixed percentage per month on the unpaid principal until the outstanding EMI is cleared.
How to Reduce Loan EMI?
To lower your loan EMI payments, consider these strategies:
- Make Part Prepayments Whenever Possible: Paying a part of the outstanding principal early gives you the option to reduce your EMI or the loan tenure. Choose to reduce your EMI if making repayments more affordable is your priority.
- Prepayment & lock-in: Many loans have a lock-in period (often one year) after which you can make full or partial prepayments. Some lenders don’t impose foreclosure or prepayment penalties for floating-rate loans availed by individuals and not used for business purposes.
Opt for Loan Balance Transfer
You can transfer your outstanding loan amount to lenders offering lower interest rates, longer tenure, or both. However, before opting for any loan balance transfer, perform a cost-benefit analysis using a calculator to ensure your benefits outweigh the transfer costs. Use an online loan EMI calculator to determine how much your EMIs could reduce with better rates.
Can Your Loan EMI Amount Change During the Tenure?
Yes, while your loan EMI is typically a fixed amount, it can change during the loan tenure under certain circumstances:
- Step-up or Step-down EMI option: Flexible repayment plans such as step-up or step-down EMIs cause your payment amounts to change over time. Step-up options increase EMIs as time passes; step-down reduce them.
- Partly disbursed loan: For loans disbursed in parts, your pre-EMIs will increase with each new disbursement.
- Loan prepayment: Making part-prepayments can allow you to either reduce the EMI or keep the EMIs constant, which reduces your total interest paid. Use a loan EMI calculator to estimate your savings on interest.
- Floating interest rates: If your loan uses a floating rate linked to benchmark rates, interest rate changes can impact your EMI or tenure. If rates rise, the lender may increase your loan tenure or, if tenure limits are exceeded, raise your EMI.
Factors That Affect Loan EMI
- Loan Amount: Borrowing a larger amount increases your EMI, assuming tenure and rate remain fixed.
- Interest Rate: Higher loan interest rates lead to higher EMIs and overall interest costs.
- Loan Tenure: Longer loan tenures usually reduce EMIs but may result in a higher total interest payment compared to shorter tenures for the same amount.
FAQs on Loan EMI Calculator
What is loan EMI?
EMI, or Equated Monthly Installment, is the fixed payment made by loan borrowers to lenders at a set date each month. It covers both principal and interest portions, ensuring the loan is repaid over a specified tenure. Borrowers can use online loan EMI calculators to assess the monthly outflow and total interest cost for all kinds of loans.
What is a loan EMI calculator?
A loan EMI calculator is an online tool for determining monthly EMI and total interest payable on any loan type. By entering the loan amount, interest rate, and tenure, users can rapidly see EMI values, aiding in financial planning and comparison for all types of loans.
How does loan amount affect the EMI?
EMI is influenced by the loan amount, interest rate, and tenure. Larger loan amounts lead to higher EMIs and interest outgo. Opting for longer tenures can reduce monthly EMI but increases overall interest. Different lenders and loan products may have specific limits, rates, and terms.
How much salary is required for a Rs 25 lakh loan?
Lenders may use eligibility criteria such as multiplier methods or EMI/income ratios to determine the qualifying loan amount for any applicant. The maximum eligible amount will depend on the applicant's income, fixed obligations, credit profile, and lender policy. Users should check with their bank, NBFC, or use an online loan eligibility calculator to estimate the necessary salary for a Rs 25 lakh loan.
What is the EMI for a Rs. 20 lakh loan?
The EMI for a Rs 20 lakh loan depends on the loan tenure and interest rate. Online loan EMI calculators help users estimate monthly payments with different rate and tenure combinations—for personal, business, or home loans.
Is a loan EMI calculator accurate?
Online loan EMI calculators from trusted lenders and financial marketplaces generally provide reliable results, given the inputs provided. Minor differences may occur due to rounding or additional lender fees. For the most precise calculation, enter exact details and consult your lending institution if needed.
Is online loan EMI calculator free to use?
Most online loan EMI calculators are free and available for unlimited use. Anyone can use them to plan all types of loans—personal, home, business, and more—without restriction.
Can loan EMI change during tenure?
For loans with variable or floating interest rates, EMI can change as rates fluctuate over the tenure. Fixed-rate loans maintain the same EMI throughout the repayment period. Changes in tenure or part prepayments can also impact EMI and total interest outgo.
How many times can I use an online loan EMI calculator?
Users can utilize online loan EMI calculators as many times as necessary for any loan type, trying various combinations of amount, rate, and tenure for personalized results.
How much is the EMI for a Rs. 30 lakh loan?
EMI for a Rs. 30 lakh loan depends on the selected tenure and interest rate. Use an online loan EMI calculator to estimate payments and compare options for any loan category—personal, home, business, education, or other.