Loan Details
₹
₹50K₹5Cr
%
1%30%
yr
1 yr30 yr
Quick presets
Monthly EMI
₹21,739
per month for 240 months
Principal Amount
₹25,00,000
Total Interest
₹27,17,340
Total Amount
₹52,17,340
Interest %
52.1%
Payment Breakdown
total
₹52.2L
Principal
₹25,00,000
47.9%
Interest
₹27,17,340
52.1%
Principal 47.9%
Interest 52.1%
Amortisation Schedule
Year-by-year repayment breakdown
| Year | EMI Paid | Principal | Interest | Balance |
|---|
How is EMI Calculated?
EMI (Equated Monthly Instalment) is calculated using the reducing-balance method. The formula is:
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
Where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments. All Indian banks use this reducing-balance method.
EMI Example Calculations
₹20L Home Loan · 8.5% · 20 yrs
₹17,356/mo
Total Interest ₹21.65L · Total Payable ₹41.65L
₹8L Car Loan · 9% · 7 yrs
₹12,836/mo
Total Interest ₹2.78L · Total Payable ₹10.78L
₹5L Personal Loan · 13% · 3 yrs
₹16,826/mo
Total Interest ₹1.06L · Total Payable ₹6.06L
Rule of thumb
Your total EMIs should not exceed 40–50% of your monthly take-home salary to maintain a healthy debt-to-income ratio.
Tips to Reduce Your EMI
- →Larger down payment — reducing the principal reduces both EMI and total interest significantly. A 20–30% down payment on a home loan can save several lakhs in interest.
- →Negotiate the rate — even 0.5% lower can save lakhs over a 20-year home loan tenure. Compare multiple lenders before accepting an offer.
- →Part-prepayments — making lump-sum payments (bonus, increment) reduces outstanding principal and cuts future interest charges dramatically.
- →Balance transfer — if another lender offers a significantly lower rate, a balance transfer can reduce your EMI. Check processing fees before switching.
Current Loan Interest Rates
Home Loan (SBI/HDFC)
8.35% – 9.50%
Car Loan
8.50% – 12.00%
Personal Loan
10.50% – 24.00%
Education Loan
8.00% – 15.00%
Loan Against Property
9.00% – 13.00%
* Approximate rates. Actual rates depend on credit score, lender, and RBI repo rate.
Home Loan EMI for Common Loan Amounts
Monthly EMI at current home loan interest rates — what you'll actually pay for popular loan amounts in India
Monthly EMI at 8.5% p.a. (SBI / HDFC typical rate)
| Loan Amount | 15-year EMI | 20-year EMI | Total Interest (20 yr) |
|---|---|---|---|
| ₹20 Lakh | ₹19,694/mo | ₹17,356/mo | ₹21.65L |
| ₹30 Lakh | ₹29,541/mo | ₹26,034/mo | ₹32.48L |
| ₹50 Lakh | ₹49,235/mo | ₹43,390/mo | ₹54.14L |
| ₹75 Lakh | ₹73,853/mo | ₹65,085/mo | ₹81.20L |
| ₹1 Crore | ₹98,470/mo | ₹86,780/mo | ₹1.08Cr |
Monthly EMI at 9% p.a.
| Loan Amount | 15-year EMI | 20-year EMI | Total Interest (20 yr) |
|---|---|---|---|
| ₹20 Lakh | ₹20,285/mo | ₹17,995/mo | ₹23.19L |
| ₹30 Lakh | ₹30,428/mo | ₹26,992/mo | ₹34.78L |
| ₹50 Lakh | ₹50,713/mo | ₹44,986/mo | ₹57.97L |
| ₹75 Lakh | ₹76,070/mo | ₹67,479/mo | ₹86.95L |
| ₹1 Crore | ₹1,01,427/mo | ₹89,973/mo | ₹1.16Cr |
How to use this table
Find your loan amount and interest rate. A 20-year tenure reduces your monthly EMI vs. 15 years, but you pay significantly more total interest. Use our EMI calculator to see the full amortisation schedule and choose the right tenure for your budget.
* EMI calculated using reducing-balance formula. Total interest assumes full tenure without prepayment.
Frequently Asked Questions
Common questions about EMI calculations and loans in India
What is the EMI for a ₹20 lakh home loan?
For a ₹20 lakh home loan at 8.5% p.a. for 20 years, the monthly EMI is approximately ₹17,356. Total interest paid is ₹21.65 lakh, making the total payable ₹41.65 lakh. At 9%, the same loan gives an EMI of ₹18,003/month with total interest of ₹23.21 lakh.
What is the EMI for a ₹50 lakh home loan?
For a ₹50 lakh home loan at 8.5% p.a. for 20 years, the monthly EMI is approximately ₹43,391. Total interest over the tenure is ₹54.14 lakh, making the total payable over ₹1.04 crore. For a 25-year tenure, the EMI drops to ₹40,260 but total interest rises to ₹70.78 lakh.
How does the loan tenure affect my EMI and total interest?
Longer tenure = lower EMI but higher total interest. Example for ₹30L at 8.5%: 10 years → EMI ₹37,158, interest ₹14.59L; 20 years → EMI ₹26,035, interest ₹32.48L; 30 years → EMI ₹23,077, interest ₹53.08L. Choose a tenure where EMI is comfortable but doesn't drag on unnecessarily.
What is the difference between flat rate and reducing balance EMI?
Reducing balance (used by all banks and this calculator) charges interest on the outstanding principal, which decreases each month — so you pay less interest over time. Flat rate charges interest on the original principal throughout the loan — effectively doubling the real cost. All RBI-regulated lenders in India must use reducing balance. Beware of money lenders quoting flat rates.
Does prepaying a loan reduce EMI or tenure?
When you make a prepayment, you can choose to either reduce the tenure (keep same EMI, finish loan earlier — saves more interest) or reduce the EMI (keep same tenure, lower monthly burden). Financial experts generally recommend reducing tenure over EMI, as it saves significantly more interest in the long run.
What credit score is needed for a home loan in India?
Most banks require a CIBIL score of 750 or above for the best home loan rates. A score of 700–749 may still get approval but at a slightly higher rate. Below 700, approval becomes harder and rates go up significantly. Improving your score by clearing existing dues and maintaining low credit utilisation can save you lakhs on a long-term home loan.
Is home loan interest tax deductible in India?
Under the old tax regime: interest up to ₹2 lakh/year on a self-occupied home is deductible under Section 24(b), and principal repayment up to ₹1.5 lakh/year is deductible under Section 80C. Under the new tax regime, these deductions are generally not available. First-time buyers may also get additional deduction of ₹50,000 under Section 80EEA (subject to conditions).
How accurate is the BharatCalc EMI calculator?
BharatCalc uses the standard reducing-balance EMI formula — the same method mandated by RBI and used by all major Indian banks. The calculator gives highly accurate results for fixed-rate loans. For floating rate loans, actual EMIs may vary as rates change. The amortisation schedule is computed month-by-month for maximum precision.