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EMI Calculator — Home, Car & Personal Loan
Reviewed by Finin2min Editorial Desk · Last reviewed 11 August 2026
🏦 EMI & Loan Calculator
Advanced EMI engine · Balance Transfer Analyzer · Prepayment Optimizer · Floating vs Fixed · Affordability · Amortization
🏠 Home Loan Calculator
Adjust sliders or type values directly
Loan Amount
₹
₹1L₹5Cr
Interest Rate
% / yr
5%30%
Loan Tenure
years
1 yr30 yrs
Processing Fee
%
Pre-Payment / Part-Payment
💰 Pre-Payment Details
💡 EMI vs Tenure Optimizer
Given a surplus — what's better?
🔄 Balance Transfer Analysis
Should I move to a new lender?
📊 Floating vs Fixed Rate
Model rate trajectory scenarios
Positive = rising, negative = falling. Applied per year to floating rate.
🧾 Tax Benefits (Home Loan)
Tax Benefit Inputs
Monthly EMI
₹0
—
₹0
Principal
₹0
Total Interest
₹0
Total Payment
0.0x
Cost Ratio
₹0
Processing Fee
0.0%
Effective APR incl fee
Cash-flow IRR ×12
₹0
Yr 1 Principal
₹0
Yr 1 Interest
⚡ Pre-Payment Impact
₹0
Interest Saved
0 mo
Tenure Reduced
—
New EMI / Tenure
💡 Prepayment Optimizer — Reduce EMI vs Reduce Tenure
🗓 Option A — Reduce Tenure
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—
—
💸 Option B — Reduce EMI
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—
—
—
🔄 Balance Transfer Analysis
₹0
New EMI
₹0
Monthly Saving
₹0
Transfer Cost
—
Break-Even Months
—
📊 Floating vs Fixed — Rate Trajectory Scenarios
Current (Stable)
—
—
Baseline
📈 Rising Rates
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📉 Falling Rates
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—
🔒 Fixed Rate
—
—
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Rising: rate increases by annual change/yr · Falling: decreases · Green border = cheapest scenario.
🧾 Annual Tax Benefits (Home Loan)
₹0
Sec 24(b) Saving
₹0
Sec 80C Saving
₹0
Total Tax Saving / yr
Sec 24(b): Max ₹2L self-occupied · Let-out shown as not computable (needs rent / set-off details) · 80C: Principal within ₹1.5L limit · 4% cess included
Loan Analytics
AI LOAN OPTIMIZER INSIGHTS
RATE SENSITIVITY
LOAN AFFORDABILITY ANALYSIS
₹
YEAR-WISE AMORTIZATION SCHEDULE
| Year | Opening Bal | Principal | Interest | Cumul. Principal | Cumul. Interest | Closing Bal |
|---|
Disclaimer: EMI calculations use the reducing balance method per RBI guidelines. Balance transfer break-even is illustrative — actual costs may include legal fees, stamp duty and registration charges. Tax computations are based on Finance Act 2025 and are indicative. Finin2min is not a registered financial advisor. Consult a CA or SEBI-registered advisor for personalised advice. | finin2min.com
🏦
Home Loan EMI: How It's Calculated & What Banks Don't Tell YouReducing balance method, amortisation schedule, prepayment impact, floating vs fixed rates, Section 24(b).
Read Guide →
📖
Finance Glossary — EMI, amortisation, prepayment, reducing balance and 200+ more terms explained
Browse Glossary →
⚠ Disclaimer
All calculators on Finin2min are for informational and illustrative purposes only. EMI calculations use the reducing balance method per RBI guidelines. Balance transfer break-even is illustrative — actual costs may include legal fees, stamp duty and registration charges. Tax computations are based on Finance Act 2025. Finin2min is not a registered financial advisor, CA, tax consultant, or legal professional. Always consult a qualified CA or SEBI-registered advisor before making financial decisions.
© 2026 Finin2min. All rights reserved.
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Consult a CA / SEBI advisor for professional advice
EMI Formula Used
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1] | P = Principal · r = Monthly rate (Annual% ÷ 12 ÷ 100) · n = Tenure in months
Frequently Asked Questions
Related Calculators
Methodology, assumptions and sources
Scope: Computes the Equated Monthly Instalment for a loan using the standard reducing-balance (amortising) method, plus the year-wise principal/interest split.
Calculation logic
- Convert the annual interest rate to a monthly rate: r = annual_rate / 12 / 100.
- Compute EMI = P × r × (1+r)n / ((1+r)n − 1), where P is principal and n is the number of months.
- If r = 0 (zero-interest case), EMI = P / n.
- Build the amortisation schedule by applying interest to the opening balance each month, then reducing it by the principal component of that month's EMI.
Inputs and assumptions
- Interest is compounded monthly on the outstanding (reducing) balance — the standard method used by Indian banks and NBFCs for retail loans.
- No processing fee, prepayment charge, or insurance premium is included unless entered separately.
- Tax benefit figures (where shown) use Finance Act 2025 slab/deduction assumptions and are indicative, not a substitute for a CA's computation.
Exclusions and edge cases
- Floating-rate loans where the rate resets mid-tenure are approximated using the rate entered; actual EMI resets depend on the lender's reset policy.
- Balance-transfer break-even figures are illustrative and exclude legal/stamp-duty/registration charges specific to the new lender.
Sources
No external regulatory source applies — this is a general financial formula, not a statutory computation.
Review status: reviewed and approved by CA Nikhil Gupta on 3 June 2026.
Use lender-specific assumptions
Model-input warning: any product rate range, FOIR/EMI-to-income heuristic or lender practice shown on this page should be treated as illustrative—not as a live offer, universal underwriting rule or eligibility promise. Enter the actual rate, tenure, fees and repayment structure from the lender's current quotation/sanction terms.
- The standard EMI model assumes a fixed periodic rate over the selected tenure; floating-rate resets can change EMI and/or tenure.
- Processing fees, insurance, taxes, prepayment/foreclosure terms and reset conventions can materially change the all-in borrowing cost.
- Compare the amortisation schedule and total interest, not just the first EMI.
- Do not infer loan approval from the calculator result; lenders apply their own credit and policy criteria.