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Loan Calculator
Compare loans and calculate EMI, total interest & payments
Loan Summary
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Payment Breakdown
Principal: ₹0
Interest: ₹0
Loan Details
Loan Amount:
₹0
Interest Rate:
0% p.a.
Tenure:
0
Total EMIs:
0
| Year | Principal | Interest | Total Paid | Balance |
|---|
How to Use the Loan Calculator
1
Enter Amount
Enter your loan amount
2
Set Terms
Interest rate and tenure
3
View Results
EMI and payment breakdown
Free Online Loan EMI Calculator
Calculate EMI for home loans, car loans, personal loans, and more. Our free calculator shows you exactly how much you'll pay each month and over the life of the loan.
EMI Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where P = Principal, r = Monthly interest rate, n = Number of months
Current Interest Rates (India - 2024)
| Loan Type | Typical Rate |
|---|---|
| 🏠 Home Loan | 8.35% - 9.50% |
| 🚗 Car Loan | 7.25% - 12.00% |
| 💼 Personal Loan | 10.50% - 24.00% |
| 📚 Education Loan | 7.50% - 13.00% |
Tips for Lower EMIs
- Compare rates from multiple lenders
- Make a larger down payment to reduce principal
- Opt for longer tenure (but pay more interest overall)
- Maintain a good credit score for better rates
- Consider prepayment to reduce total interest
Frequently Asked Questions
EMI (Equated Monthly Installment) is a fixed payment amount you pay to the lender each month until the loan is fully repaid. It includes both principal and interest components.
Longer tenure means lower EMI but more total interest paid. Shorter tenure means higher EMI but less total interest. Choose based on your monthly budget and total cost preference.
Interest rates depend on your credit score, income, loan amount, tenure, loan type, and the lender's policies. A higher credit score typically gets you a lower interest rate.