Mortgage & Loan EMI Calculator
Calculate monthly EMI, loan interest, and repayment schedule instantly. Free mortgage & loan calculator with accurate results.
Loan Details
Payment Schedule (First 10 Years)
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹8,678 | ₹1,595 | ₹7,083 | ₹9,98,405 |
| 2 | ₹8,678 | ₹1,606 | ₹7,072 | ₹9,96,799 |
| 3 | ₹8,678 | ₹1,618 | ₹7,061 | ₹9,95,181 |
| 4 | ₹8,678 | ₹1,629 | ₹7,049 | ₹9,93,552 |
| 5 | ₹8,678 | ₹1,641 | ₹7,038 | ₹9,91,912 |
| 6 | ₹8,678 | ₹1,652 | ₹7,026 | ₹9,90,260 |
| 7 | ₹8,678 | ₹1,664 | ₹7,014 | ₹9,88,596 |
| 8 | ₹8,678 | ₹1,676 | ₹7,003 | ₹9,86,920 |
| 9 | ₹8,678 | ₹1,688 | ₹6,991 | ₹9,85,232 |
| 10 | ₹8,678 | ₹1,700 | ₹6,979 | ₹9,83,533 |
| 11 | ₹8,678 | ₹1,712 | ₹6,967 | ₹9,81,821 |
| 12 | ₹8,678 | ₹1,724 | ₹6,955 | ₹9,80,098 |
EMI Calculation
Loan Summary
Quick Tip
Consider making prepayments to reduce total interest and loan tenure.
How to Calculate EMI Online
Our EMI calculator uses the standard mathematical formula to calculate your Equated Monthly Installment (EMI):
(Annual rate ÷ 12 ÷ 100)
Who our Mortgage Repayment Schedule / Loan EMI Calculator Helps
🏠 Home Buyers
Calculate mortgage payments for home loans and plan your budget effectively before making a purchase decision.
🚗 Car Buyers
Determine affordable car loan EMIs before making a purchase and choose the best financing option.
💼 Personal Loan Seekers
Compare different loan options and choose the best terms that fit your financial situation.
📊 Financial Planners
Assess loan affordability and plan monthly budgets for better financial management.
🏢 Business Owners
Calculate business loan repayments for cash flow planning and investment decisions.
💰 Investment Advisors
Help clients understand loan implications on their finances and make informed decisions.
Top Uses of the Free Loan Calculator Tool
📅 EMI Planning
Calculate exact monthly payments for budgeting and financial planning.
⚖️ Loan Comparison
Compare different interest rates and tenures to find the best deal.
💡 Affordability Check
Determine maximum loan amount you can afford based on your income.
📈 Interest Analysis
See total interest payable over the entire loan tenure.
⏱️ Tenure Optimization
Find the best balance between EMI amount and total interest cost.
💸 Prepayment Planning
Understand impact of prepayments on total cost and tenure.
📋 Amortization Schedule
View detailed monthly payment breakdown and remaining balance.
🎯 Financial Goal Setting
Plan your finances better with accurate EMI calculations.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It's the fixed amount you pay every month to repay your loan, which includes both principal and interest components.
How accurate is this calculator?
Our calculator uses the standard EMI formula used by all banks and financial institutions. The results are mathematically accurate, though actual EMIs may vary slightly due to rounding or specific bank policies.
Can I use this for all types of loans?
Yes, this calculator works for all types of loans including home loans, car loans, personal loans, and business loans, as long as they use the reducing balance method.
What's the difference between fixed and floating interest rates?
Fixed rates remain constant throughout the loan tenure, while floating rates can change based on market conditions. Use the current applicable rate for calculations.
Should I choose a longer or shorter tenure?
Shorter tenure means higher EMI but lower total interest. Longer tenure means lower EMI but higher total interest. Choose based on your monthly budget and total cost preference.
How does prepayment affect my loan?
Prepayments reduce your principal amount, which decreases the total interest payable and can reduce either your EMI or loan tenure, depending on your bank's policy.