EMI Calculator
Calculate monthly EMI, total interest and principal for any loan. Covers home loans, car loans, personal loans and business loans.
EMI Calculator
EMI Calculator FAQs
What factors affect my EMI amount?
Three factors: (1) Principal — higher loan amount = higher EMI. (2) Interest rate — higher rate = higher EMI. (3) Tenure — longer tenure = lower EMI but more total interest paid.
Can I reduce my home loan EMI?
Yes: (1) Make partial prepayments to reduce principal. (2) Negotiate lower interest rate or switch lender (balance transfer). (3) Increase tenure temporarily if needed. (4) Pay more than EMI when possible to reduce tenure.
What is the difference between fixed and floating EMI?
Fixed EMI: same amount throughout the loan tenure regardless of market rates. Floating EMI: changes with RBI repo rate — when rates drop, your EMI or tenure reduces; when rates rise, EMI or tenure increases.
What is the typical interest rate for a business loan in India?
Business loan interest rates range from 10–24% per annum depending on lender (bank vs NBFC), borrower profile, credit score, business vintage, turnover and collateral.
Does prepayment affect my EMI?
Partial prepayment reduces your outstanding principal. You can choose to either reduce your EMI (keeping tenure same) or reduce your tenure (keeping EMI same). Both options save interest.