Free EMI calculator for home, car and personal loans. Includes amortisation table and principal/interest charts.
An EMI (Equated Monthly Instalment) calculator helps you find out exactly how much you will pay every month on a loan. Whether you are taking a home loan, car loan, personal loan, or education loan, the EMI calculator gives you the monthly payment amount, total amount payable over the loan tenure, and total interest you will pay to the bank.
EMI calculators are used by millions of people in India every day before taking any loan. Knowing your EMI in advance helps you plan your monthly budget, compare offers from different banks, and decide whether a loan is affordable for your income.
CalcGlobe's EMI calculator also shows you a complete amortisation schedule — a month-by-month breakdown of how much of each payment goes towards the principal and how much goes towards interest. This helps you understand how your loan reduces over time.
EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1}
Inputs: Loan amount: ₹10,00,000 · Interest rate: 8.5% per annum · Tenure: 5 years (60 months)
Most financial advisors recommend your total EMI payments should not exceed 40–50% of your monthly take-home salary. For example if you earn ₹60,000 per month, your total EMIs across all loans should ideally stay below ₹25,000–₹30,000. Keeping EMIs lower gives you financial flexibility for emergencies and savings.
Yes — a higher down payment directly reduces the principal loan amount, which in turn reduces your EMI and the total interest you pay over the loan tenure. For example on a ₹50 lakh home loan, paying ₹10 lakh as down payment instead of ₹5 lakh reduces your principal by ₹5 lakh, saving a significant amount in interest over 20 years.
Making even one extra EMI payment per year can significantly reduce your loan tenure and total interest paid. This is called prepayment. Most banks allow partial prepayment on floating rate loans without penalty. Use the prepayment option in the amortisation schedule to see how much you can save.
Fixed rate loans have an EMI that never changes regardless of market conditions — good for budgeting certainty. Floating rate loans have an EMI that changes with the RBI repo rate — usually lower when rates fall but higher when rates rise. For long tenure loans like home loans, floating rate has historically worked out cheaper in India over time.
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