EMI Calculator India
Estimate your monthly Equated Monthly Installment (EMI) instantly for home, car, personal, and business loans in India. Plan your conversions, interest payments, and download standard amortization schedules with full privacy.
Business Loan EMI Calculator
Plan financing for business expansions, inventory, machinery, or working capital.
* Indicative Calculation: Actual EMI may vary based on lender terms, processing fees, and RBI guidelines.
Monthly EMI
₹46,537
Breakup Breakdown
Principal Loan Amount
Pure borrowed fund value
₹20,00,000
71.6%
Total Interest Payable
Total charge over tenure
₹7,92,190
28.4%
Amortization Repayment Trend
Year-on-year principal vs interest payment components
Hover or tap on any year's bar column to see the precise principal and interest split
Amortization Schedule
View how much principal and interest you pay month-by-month
How EMI is Calculated in Indian Banking
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both principal and interest each month so that over a specified number of years, the loan is paid off in full.
In Indian retail banking (such as SBI, HDFC, ICICI, or LIC HFL), EMIs are computed using the Reducing Balance Method. Under this method, the interest is calculated only on the remaining outstanding principal balance at the end of each month, rather than the initial principal.
Mathematical Formula
The original loan amount
Monthly rate: (Rate / 12 / 100)
Total number of monthly EMIs
Frequently Asked Questions (FAQs)
What is the Reducing Balance method for EMIs?
In India, almost all commercial banks calculate EMI on a reducing balance basis. As you pay your EMI each month, a part of it goes toward principal repayment. The next month's interest is calculated only on the remaining principal, thus lowering your total interest burden progressively.
How does Credit Card EMI conversion differ from retail loans?
When you convert an outstanding credit card balance into EMIs, banks charge a specific interest rate (often higher than personal loans) and an upfront processing fee (usually 1% to 2.5% of the principal). In India, this processing fee is subject to an additional 18% Goods and Services Tax (GST).
What is the impact of RBI rate changes on my EMI?
For floating-rate loans (like Home Loans linked to Repo Linked Lending Rates), any hike or cut in interest rates by the RBI prompts banks to revise their lending benchmarks. Lenders may either change your EMI or extend or shorten your tenure so that your EMI stays the same. RBI's fair-practices rules require lenders to tell you which option applies and to let you choose, so check the notice or statement you receive after every rate reset.
Should I choose a higher or lower tenure for a loan?
A shorter tenure (e.g. 10 years instead of 20) means you will pay higher monthly EMIs, but your total interest outflow will be drastically lower. A longer tenure reduces monthly stress with smaller EMIs but multiplies the total interest payable over time.
Related Guides
In-depth reading to help you understand the numbers above before you borrow.
- Business LoansBusiness Loans in India: Types, Costs and How to ChooseTerm loans, working capital, overdrafts and MUDRA loans compared, with the EMI and interest on a ₹10 Lakh business loan over three and five years.
- Credit HealthCIBIL Score and Your Loan Interest Rate: Why 750+ MattersHow your credit score affects loan approval and interest rates, with a ₹30 Lakh example showing how much extra a lower score can cost over 20 years.
- Banking RulesHow to Read Your Loan's Key Fact Statement: APR, Fees and Your RightsWhat the RBI-mandated Key Fact Statement contains, how APR differs from the interest rate, and the questions to ask before you sign any loan agreement.
- Loan ConceptsReducing vs. Flat Interest Rates: Which is Cheaper?In India, a 'Flat Rate' of 8% is equivalent to a 'Reducing Rate' of roughly 14%. Learn how to calculate the actual cost of your loan.
Fintech Blueprint Loan Amortization Summary
Generated Date
5/10/2026
Principal vs Interest Split
Schedule Highlight Milestones
| Period | Opening Bal. | EMI Paid | Interest | Principal | Closing Bal. |
|---|---|---|---|---|---|
| Year 1 | ₹20,00,000 | ₹5,58,444 | ₹2,61,421 | ₹2,97,023 | ₹17,02,976 |
| Year 2 | ₹17,02,976 | ₹5,58,444 | ₹2,17,063 | ₹3,41,381 | ₹13,61,593 |
| Year 3 | ₹13,61,593 | ₹5,58,444 | ₹1,66,080 | ₹3,92,364 | ₹9,69,228 |
| Year 4 | ₹9,69,228 | ₹5,58,444 | ₹1,07,483 | ₹4,50,961 | ₹5,18,266 |
| Year 5 | ₹5,18,266 | ₹5,58,401 | ₹40,135 | ₹5,18,266 | ₹0 |
This statement is generated electronically for informational purposes. All loans are subject to credit approval and verification. Calculations do not constitute a legal offer of finance. Powered by Fintech Blueprint India.