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Free EMI calculator for home, personal & car loans
Use this EMI calculator India tool to estimate monthly installments for a home loan, housing loan, personal loan, or car loan. Beyond a basic loan EMI calculator, you can plan prepayment and part-payment strategies — extra monthly EMI, annual lump sums, step-up payments, and optional prepayment fees — then compare reduce tenure vs reduce EMI.
Instantly see interest savings, months saved, amortization schedule, and your projected debt-free date. Calculations stay private in your browser — no signup required.
EMI calculator FAQs
What is an EMI calculator?
An EMI calculator estimates your equated monthly installment for a home loan, personal loan, or car loan using loan amount, interest rate, and tenure. This tool also models prepayments so you can see interest saved and a revised debt-free date.
How do I calculate home loan EMI with prepayment?
Enter your loan amount (or outstanding balance), annual interest rate, and tenure. Add an extra monthly payment or annual lump sum, then choose reduce tenure or reduce EMI. The EMI prepayment calculator updates interest savings and payoff month instantly in your browser.
What is reduce tenure vs reduce EMI?
Reduce tenure keeps your EMI the same and finishes the housing loan earlier. Reduce EMI keeps the original end date and lowers monthly installments after part-prepayment. Most borrowers save more interest by reducing tenure.
Does this EMI calculator store my loan data?
No. All EMI and amortization math runs client-side in your browser. You can share a scenario via URL parameters only — no account or server-side loan storage is required.
Can I use this for personal loan or car loan EMI?
Yes. The same reducing-balance EMI formula works for personal loans, car loans, and other term loans. Adjust amount, rate, and tenure, then optionally model foreclosures or part payments.
Are the interest savings exact?
Results are planning estimates. Banks may use different day-count conventions, floating-rate resets, prepayment fees, or foreclosure rules. Confirm final figures with your lender before prepaying.