12/24/2014

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia
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

EMI Calculator Android App

Home Loan Amount

35,00,000

Savings and Investments Part 1

25L

50L

75L

100L

Savings and Investments Part 2

SBI MaxGain Why should you choose this

Interest Rate

10.1

home saver loan?

7.5

10

12.5

15

17.5

20

Loan Tenure

Years
Months

20

10

15

20

25

30

Monthly Payment (EMI)

Break-up of Total Payment

34,008
42.88%

Total Interest Payable

46,61,914
Total Payment
(Principal + Interest)

81,61,914

57.12%

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/

December 2014

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12/24/2014

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia
50,00,000

Principal

Interest

5,00,000

Balance

30,00,000

3,00,000

20,00,000

2,00,000

10,00,000

1,00,000

Balance

4,00,000

34

33

32

Balance

20

20

30

31

20

20

20

29

28

27

Total Payment
(A + B)

20

20

25

26

20

20

20

24

23

22

Interest
(B)

20

20

20

21

20

20

20

19

18

17

Principal
(A)

20

20

16

20

20

20

20

Year

15

0
14

EMI Payment / year

40,00,000

Loan Paid To Date

2014

4,550

29,458

34,008

34,95,450

0.13%

2015

57,677

3,50,419

4,08,096

34,37,774

1.78%

2016

63,779

3,44,316

4,08,096

33,73,994

3.60%

2017

70,528

3,37,568

4,08,096

33,03,466

5.62%

2018

77,990

3,30,105

4,08,096

32,25,476

7.84%

2019

86,242

3,21,853

4,08,096

31,39,234

10.31%

2020

95,368

3,12,728

4,08,096

30,43,866

13.03%

2021

1,05,458

3,02,637

4,08,096

29,38,408

16.05%

2022

1,16,617

2,91,479

4,08,096

28,21,791

19.38%

2023

1,28,956

2,79,140

4,08,096

26,92,835

23.06%

2024

1,42,601

2,65,495

4,08,096

25,50,234

27.14%

2025

1,57,689

2,50,406

4,08,096

23,92,544

31.64%

2026

1,74,374

2,33,721

4,08,096

22,18,170

36.62%

2027

1,92,825

2,15,271

4,08,096

20,25,346

42.13%

2028

2,13,227

1,94,868

4,08,096

18,12,118

48.23%

2029

2,35,789

1,72,307

4,08,096

15,76,330

54.96%

2030

2,60,737

1,47,359

4,08,096

13,15,593

62.41%

2031

2,88,326

1,19,770

4,08,096

10,27,267

70.65%

2032

3,18,833

89,263

4,08,096

7,08,434

79.76%

2033

3,52,569

55,527

4,08,096

3,55,866

89.83%

2034

3,55,866

18,222

3,74,088

100.00%

1.3k

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

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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)
n is loan term / tenure / duration in number of months
Forexample,ifyouborrow 10,00,000fromthebankat10.5%annualinterestforaperiodof10years(i.e.,120months),thenEMI=
10,00,000*0.00875*(1+0.00875)120/((1+0.00875)1201)= 13,493.i.e.,youwillhavetopay 13,493for120monthstorepaytheentire
loanamount.Thetotalamountpayablewillbe 13,493*120= 16,19,220thatincludes 6,19,220asinteresttowardtheloan.
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 / yearfor 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.

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EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia

Personal Loan @ 12.99%

Compare Interest Rate, Emi, Tenure Of All Banks & Get Best.Apply Now !

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
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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leave a comment below.

Further Reading
DEC 12
2014

INTRODUCING THE ALL NEW KISAN VIKAS PATRA

FIXED DEPOSIT

NOV 25
2014

KISAN VIKAS PATRA

NATIONAL SAVINGS CERTIFICATE

HOME LOAN

TAX

TOP-UP LOAN

HOW TO PAY FOR EXPENSES WHEN TRAVELLING ABROAD?

CREDIT CARD

NOV 20
2014

PPF

HOME IMPROVEMENT LOANS: DOS & DONTS

HOME IMPROVEMENT LOAN

NOV 22
2014

PAN

DEBIT CARD

DEMAND DRAFTS

INDIA & CHINA: A TALE OF TWO ASIAN ECONOMIES

http://emicalculator.net/

FOREX

TRAVEL CARD

CPI

ECONOMY

TRAVELLERS CHEQUES

FDI

FII

IIP

INR

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EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia
NOV 10
2014

NEED A LOAN QUICKLY? TRY THESE INSTANT LOANS

CREDIT CARD

LOAN ON PHONE

PERSONAL LOAN

PRE-APPROVED LOAN

FeaturedComment
ParagMandhane ayearago

Worksasonewantsittowork....Simpleandeasy
Greatworkguys
58

526Comments

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EMICalculator

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Jointhediscussion
BasilJoseph 2yearsago

greatwork...thanks
97

Reply Share

star 2yearsago

E=P.r.(1+r)n/((1+r)n1)
theabovesaidformulaisforcalculatingtheemi.butifwedonttheinterestratethenwhatistheformulatocalculatethesame
exampleherebelow?
ifEMIis500.00pm
principalis10000.00
tenureis24months
thenwhatistheformulatocalculateinterestrate?
82

Reply Share

ranjan>star 5monthsago

500=10000*r(1+r)24/((1+r)n1)solveitandfindtherate
interestrateis18.1%
26

Reply Share

Poornima@EMICalculator

Mod >star ayearago

Here'stheinterestratecalculator:http://emicalculator.net/loan...
Here'stheformula:http://www.efunda.com/formulae...
7

Reply Share

ravi>Poornima@EMICalculator ayearago

thanks..niceandeasyEMIcalculator
4

Reply Share

ParagMandhane ayearago
FeaturedbyEMICalculator

Worksasonewantsittowork....Simpleandeasy
Greatworkguys
58

Reply Share

Poornima@EMICalculator

Mod >ParagMandhane ayearago

Thanksforthekudos
http://emicalculator.net/

5/9

12/24/2014

Thanksforthekudos
10

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia

Reply Share

VipinManchan ayearago

itsveryclear..yaarmazaaagaya
37

Reply Share

Swetha 2yearsago

Soopercool.Providingmoredetails.BetterthanthatofmanybankwebsitesinIndia.
57

Reply Share

RaviChowdary>Swetha 3monthsago

ydoubringthenameofINDIAhere..buildoneifucan
3

Reply Share

KanakSinghal>RaviChowdary 3monthsago

shemeantnooffencedude..eventhiscalculatorismadebyanindianiguess(seecurrencysymbol)
9

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MANOJKUMAR 2yearsago

EXCELLENT
40

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AtsHansen 2yearsago

excellent...!!!
36

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Sriman ayearago

Awesome...Reallygoodsite
21

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kaleeswaran 2yearsago

super!!!!!!thanks
17

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UMESHKUMAR 2yearsago

veryhelpful
thanks
14

Reply Share

dharmendra 2yearsago

Excellentjob
14

Reply Share

om 2yearsago

bestemical
12

Reply Share

shreyas ayearago

incrediblejob...firsttimeamableexperience100%advantageonWEB..
Goodjobhighlyappreciated!!!!
11

Reply Share

AvikC 2yearsago

Simplysuperb..
11

Reply Share

kalai ayearago

superb
10

Reply Share

Bharat ayearago

Greatwork
http://emicalculator.net/

6/9

12/24/2014

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia
9

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vineetkhanna ayearago

itisexcellenttooltocalculateyourliabilityandhelpsalotinfinanacialplanning.
9

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Radhika ayearago

Verygoodarticle...
9

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Ram ayearago

efficienttool.thanks.
8

Reply Share

Iqbal ayearago

Thanks..
NiceandEasyexplanations...
8

Reply Share

Shashi 2yearsago

Reallygreatwork.:):)
8

Reply Share

NK ayearago

BestEMICalculatoreverseen
7

Reply Share

PraveenKumar ayearago

Excellent
7

Reply Share

Abhishek 2yearsago

Nicework..thanks
7

Reply Share

Sohil 2yearsago

Thanksandnicework
7

Reply Share

HariPrabu 7monthsago

Excellenttool.Wouldbeverygoodifthereisanexporttoexcelorpdfoption.Iwouldsaveitformyfuturereference.
4

Reply Share

manishsharma ayearago

headachefreecalculation
4

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abhishekagrawal ayearago

goodwork
4

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Nucleation 2yearsago

Nowordstosay,thisisthebestonlineemicalculator.InspiredfromthisIdevelopedawindowsapplicationofemicalculation.
Therearenographsthough.Checkoutthewindowsversionathttp://www.nucleation.in/emica...
4

Reply Share

Poornima@EMICalculator

Mod >Nucleation 2yearsago

Goodapp...canbeusefultoourreaders.
6

Reply Share

Vipin>Nucleation ayearago

Yoursisbakwas,anybodycandothat.learnsomethingfromthissitebeforeposting.
http://emicalculator.net/

Reply Share

7/9

12/24/2014

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia

Reply Share

Nucleation>Vipin ayearago

YesVipin,itmightbeeasytomake.Iamnotasoftware
developer.Idevelopedittoimprovemyknowledge.Icommentedaboutithere
becauseIdevelopeditbytheknowledgegainedfromthissite.Isharedit
becauseIthoughtitmightbehelpfultosomeone.Itmaybeuselessorbad,but
manypeoplehavedownloadeditfrommysite.Almost584peoplehasdownloaded
itfromhttp://download.cnet.com/EMIC...
Moreover,itisafreewaretool.IfyousearchonGoogle,youcanfindsimilar
sharewareapplications.
Ahumblerequest,thenexttimeyoucomment,donotmake
othersfeelbad.Thanks
7

Reply Share

Poornima@EMICalculator

Mod >Nucleation ayearago

Yourworkismuchappreciated.Noneedtofeelbadaboutoneadversecomment.
3

Reply Share

Nucleation>Poornima@EMICalculator ayearago

Thanksforthatsupport.:)
1

Reply Share

shweta>Nucleation 4monthsago

isthereanyonecanaskmethathowtocalculatepower??

Reply Share

harish 2yearsago

Iwantedonewithmonthsandgotit:),elsehadtodolotofcalculationsinexcelusingtheformula
4

Reply Share

Karesh 2yearsago

Greattool!Thanksalot...
8

Reply Share

vivek ayearago

excellenttool
6

Reply Share

RahulJadhav ayearago

Itisreallyhelpful,Excellentwork....
6

Reply Share

ShoibKhan ayearago

thisisthebesttoolforEMIcalculations..Thankstodevelopers!!!!itssavedlotsoftime....
6

Reply Share

ashokmittal ayearago

excellent
6

Reply Share

BalajiAiyyankar 2yearsago

itisasuperbtool,hardlytakesanytime,inajiffy!fantastic!
6

Reply Share

ManoharSimhadri ayearago

NiceUIandveryclearexplanation...GreatWorkGuys:)
3

Reply Share

Natarajan ayearago

Greatthanks
3

http://emicalculator.net/

Reply Share

8/9

12/24/2014

EMICalculatorforHomeLoan,CarLoan&PersonalLoaninIndia
Loadmorecomments

WHAT'STHIS?

ALSOONEMICALCULATOR

4circumstancesthatcanimpactyourEMI

Penaltyonprepaymentandforeclosureofhomeloan
athingofpast?

3comments3yearsago

AvatarkrishnaThesmartthingwouldbetodobeginpre
paymentinthefirsttwoyearsitself.Thiswouldhelpa
persontakingaloanalotbecauseinthebeginningfew

3comments3yearsago

Budget2013:Taxexemptiononhomeloaninterest
amountraised

PreEMIvsFullEMIUnderstandingpayment
schemesforunderconstructionproperties

4comments2yearsago

9commentsayearago

AvatarPJihaveaninterestingpointhere...thearticlementions
""Itisonlyfortheloan"sanctioned"bythefinancial
institutionsduring1stApril2013to31stMarch

AvatarAmitGhoshSirIhavetakenahomeloanfromIDBIbank
&mypropertyisunderconstructions.MyPREEMIhas
startedfromJanuary,2014&stillIampayingthat

Subscribe

AddDisqustoyoursite

AvatarSoumyaRanjanHi,Ihavetakenahomeloanof14Lakhs
fromXXXXBank.Currentinterestratesis11%.NowIwould
liketotransferthesametosomeother

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