What interest rate should I use?

Use the annual rate your lender quotes on your sanction letter, not a rate you saw advertised — advertised rates are often the lowest slab and may not apply to you.

Finance

EMI Calculator

Work out your monthly loan instalment for any home, car, or personal loan.

Enter your values below — results update instantly as you type.

Loan amount

₹

Interest rate (annual)

Loan tenure

years

Monthly EMI

₹21,696

Total interest

₹27,06,939

Total payment

₹52,06,939

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Formula used

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly rate, n = tenure in months.

How to use this emi calculator

Enter your values in the fields above — results update instantly as you type.
Adjust any figure to see how it changes the outcome.
Use Share, Copy, or Print to save your result for later.

Tips

A larger down payment lowers both your EMI and total interest paid.
Prepaying even 1 extra EMI a year can shorten a 20-year loan by 2–3 years.

Common mistakes

Comparing loans by EMI alone rather than total interest paid over the tenure.
Forgetting that a longer tenure means a smaller EMI but a much higher total cost.