3/15/2014

EMI CALCULATOR

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
MULTI-PURPOSE LOAN CALCULATOR EMI CALCULATOR WIDGET ARTICLES NEWS BITES FAQS CONTACT US

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Home Loan Personal Loan Car Loan
Featured Calculators & Articles Multi-purpose Loan Calculator Home Loan Amount
|
0

17,63,283
|
50L

|
75L

SBI MaxGain Why should you choose this

|
100L

|
25L

home saver loan? Avoid these common credit card mistakes Budget 2013: Tax exemption on home loan interest amount raised

Interest Rate
|
5

10.5
|
12.5

%
|
15

|
7.5

|
10

|
17.5

|
20

Loan Tenure
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0

30
|
15

Years Months
|
20

|
5

|
10

|
25

|
30

Monthly Payment (EMI)

Break-up of Total Payment

16,129
30.37%

Total Interest Payable

40,43,316
Total Payment (Principal + Interest)
69.63%

58,06,599

Principal Loan Amount

Total Interest

Compare loan rates from top banks side-by-side

Compare Rates & Apply for Home Loan

Schedule showing EMI payments starting from

March 2014

http://emicalculator.net/

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25,00,000

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Principal Interest Balance 2,50,000

20,00,000

2,00,000

EMI Payment / year

15,00,000 Balance

1,50,000

10,00,000

1,00,000

5,00,000

50,000

0
4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 4 4 4 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 0 4 4

Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

Principal (A) 7,290 9,629 10,690 11,868 13,176 14,628 16,240 18,029 20,016 22,222 24,671 27,390 30,408 33,759 37,480 41,610 46,196 51,287 56,939 63,214 70,180 77,914 86,501 96,033 1,06,616 1,18,366 1,31,410 1,45,892

Interest (B) 1,54,005 1,83,925 1,82,864 1,81,686 1,80,378 1,78,926 1,77,314 1,75,524 1,73,537 1,71,331 1,68,882 1,66,163 1,63,145 1,59,794 1,56,073 1,51,943 1,47,357 1,42,266 1,36,614 1,30,340 1,23,373 1,15,639 1,07,053 97,520 86,937 75,187 62,143 47,661

Total Payment (A + B) 1,61,294 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553 1,93,553

Balance 17,55,993 17,46,365 17,35,675 17,23,807 17,10,632 16,96,004 16,79,764 16,61,735 16,41,719 16,19,496 15,94,825 15,67,436 15,37,027 15,03,268 14,65,788 14,24,177 13,77,982 13,26,695 12,69,756 12,06,542 11,36,362 10,58,448 9,71,948 8,75,914 7,69,298 6,50,932 5,19,522 3,73,630

Loan Paid To Date 0.41% 0.96% 1.57% 2.24% 2.99% 3.82% 4.74% 5.76% 6.89% 8.15% 9.55% 11.11% 12.83% 14.75% 16.87% 19.23% 21.85% 24.76% 27.99% 31.57% 35.55% 39.97% 44.88% 50.32% 56.37% 63.08% 70.54% 78.81%

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2042 2043 2044 1,61,970 1,79,820 31,840

EMI Calculator for Home Loan, Car Loan & Personal Loan in India
31,583 13,734 419 1,93,553 1,93,553 32,259 2,11,660 31,840 0 88.00% 98.19% 100.00%

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What is EMI?

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Equated Monthly Installment EMI for short is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be repaid monthly. The interest component of the EMI would be larger in the initial months and gradually reduce when compared to the principal amount. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment wont change, the proportion of principal and interest components will change with time. With each successive payment, youll pay more towards the principal and less in interest. Heres the formula to calculate EMI:

where E is EMI P is Principal Loan Amount r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875) n is loan term / tenure / duration in number of months For example, if you borrow 10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then EMI = 10,00,000 * 0.00875 * (1 + 0.00875)120 / ((1 + 0.00875)120 1) = 13,493. i.e., you will have to pay 13,493 for 120 months to repay the entire loan amount. The total amount payable will be 13,493 * 120 = 16,19,220 that includes 6,19,220 as interest toward the loan. Computing EMI for different combinations of principal loan amount, interest rates and loan term using the above EMI formula by hand is time consuming, complex and error prone. Our EMI calculator automates this calculation for you and gives you the result in a split second along with visual charts displaying payment schedule and the break-up of total payment.

How to use EMI calculator?

With colourful charts and instant results, our EMI calculator is easy to use, intuitive to understand and is quick to perform. You can calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator. Enter the following information in the EMI calculator: Principal loan amount you wish to avail (rupees) Loan term (months or years) Rate of interest (percentage) EMI in advance OR EMI in arrears (for car loan only)

http://emicalculator.net/

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EMI Calculator for Home Loan, Car Loan & Personal Loan in India
Use the slider to adjust the values in the EMI calculator form. If you need to enter more precise values, you can type the values directly in the relevant boxes provided above. As soon as the values are changed using the slider (or hit the tab key after entering the values directly in the input fields), EMI calculator will re-calculate your monthly payment (EMI) amount. A pie chart depicting the break-up of total payment (i.e., total principal vs. total interest payable) is also displayed. It displays the percentage of total interest versus principal amount in the sum total of all payments made against the loan. The payment schedule table showing payments made every month / year for the entire loan duration is displayed along with a chart showing interest and principal components paid each year. A portion of each payment is for the interest while the remaining amount is applied towards the principal balance. During initial loan period, a large portion of each payment is devoted to interest. With passage of time, larger portions pay down the principal. The payment schedule also shows the intermediate outstanding balance for each year which will be carried over to the next year.

Floating Rate EMI Calculation

We suggest that you calculate floating / variable rate EMI by taking into consideration two opposite scenarios, i.e., optimistic (deflationary) and pessimistic (inflationary) scenario. Loan amount and loan tenure, two components required to calculate the EMI are under your control; i.e., you are going to decide how much loan you have to borrow and how long your loan tenure should be. But interest rate is decided by the banks & HFCs based on rates and policies set by RBI. As a borrower, you should consider the two extreme possibilities of increase and decrease in the rate of interest and calculate how much would be your EMI under these two conditions. Such calculation will help you decide how much EMI is affordable, how long your loan tenure should be and how much you should borrow. Optimistic (deflationary) scenario: Assume that the rate of interest comes down by 1% 3% from the present rate. Consider this situation and calculate your EMI. In this situation, your EMI will come down or you may opt to shorten the loan tenure. Ex: If you avail home loan to purchase a house as an investment, then optimistic scenario enables you to compare this with other investment opportunities. Pessimistic (inflationary) scenario: In the same way, assume that the rate of interest is hiked by 1% 3%. Is it possible for you to continue to pay the EMI without much struggle? Even a 2% increase in rate of interest can result in significant rise in your monthly payment for the entire loan tenure. Such calculation helps you to plan for such future possibilities. When you take a loan, you are making a financial commitment for next few months, years or decades. So consider the best as well as worst casesand be ready for both. In short, hope for the best but be prepared for the worst!

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Further Reading
MAR 01 2014

AVOID THESE COMMON CREDIT CARD MISTAKES

CIBIL

CR EDIT CAR D

CR EDIT SCO R E

JAN 15 2014

PRE-EMI VS FULL EMI UNDERSTANDING PAYMENT SCHEMES FOR UNDER4/9

http://emicalculator.net/

3/15/2014

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

CONSTRUCTION PROPERTIES
JAN 03 2014

HO ME L O AN

P R E- EMI

R BI

TAX

SBI MAXGAIN WHY SHOULD YOU CHOOSE THIS HOME SAVER LOAN?
CITIBANK HO ME L O AN HSBC IDBI BANK O V ER DR AF T SBI STANDAR D CHAR TER ED BANK TAX

NOV 05 2013

WHY DID RBI BAN 0% EMI SCHEMES? BANKS MUST LINK DISBURSAL OF HOUSING LOANS TO CONSTRUCTION STAGES: RBI
HO ME L O AN

R BI

SEP 06 2013

R BI

Featured Comment
Parag Mandhane
8 months ago

Works as one wants it to work....Simple and easy Great work guys

6
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EMI Calculator
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Basil Joseph 71 Swetha 42
a year ago

great work...thanks
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a year ago

Sooper cool. Providing more details. Better than that of many bank websites in India.
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9 months ago

Vipin Manchan 23

its very clear..yaar maza aa gaya

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a year ago

MANOJ KUMAR

EXCELLENT
33 Ats Hansen 31 star
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a year ago

excellent...!!!
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9 months ago

E = P.r.(1+r)n/((1+r)n-1) the above said formula is for calculating the emi. but if we dont the interest rate then what is the formula to calculate the same example herebelow ? if EMI is 500.00 pm principal is 10000.00 tenure is 24 months http://emicalculator.net/

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tenure is 24 months

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

then what is the formula to calculate interest rate ?

24
Reply Share

Poornima@EMICalculator

Mod

star 8 months ago

Here's the interest rate calculator: http://emicalculator.net/loan-... Here's the formula: http://www.efunda.com/formulae...
1
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ravi 1 Sriman 16

Poornima@EMICalculator 3 months ago

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thanks.. nice and easy EMI calculator

9 months ago

Awesome...Really good site

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10 months ago

kaleeswaran 16

super!!!!!! thanks
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a year ago

dharmendra

Excellent job
14
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10 months ago

UMESH KUMAR

very helpful thanks

13 om 11 Avik C 11 Bharat 9
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10 months ago

best emi cal

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a year ago

Simply superb..
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8 months ago

Great work
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9 months ago

vineet khanna 9 kalai 9 Ram 8 Iqbal

it is excellent tool to calculate your liability and helps a lot in finanacial planning.
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9 months ago

superb
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9 months ago

efficient tool.thanks.
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9 months ago

Thanks.. Nice and Easy explanations...

8 shreyas
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8 months ago

incredible job...first time am able experience 100% advantage on WEB.. Good job highly appreciated!!!! http://emicalculator.net/

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Good job highly appreciated!!!!

7 Radhika 7 harish 4
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9 months ago

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

Very good article ...

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a year ago

I wanted one with months and got it :), else had to do lot of calculations in excel using the formula
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Parag Mandhane

8 months ago

Featured by EMI Calculator

Works as one wants it to work....Simple and easy Great work guys

6
Reply Share

Poornima@EMICalculator

Mod

Parag Mandhane 8 months ago

Thanks for the kudos

5 Shashi 6
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a year ago

Really great work. :):)

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8 months ago

abhishek agrawal

good work
3 Indian 3
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8 months ago

Awesome tool! Very useful ..

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8 months ago

Vipin Khatri 3

very smooth, user friendly, awesome graphics...I always use this site for all emi calculations
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9 months ago

Veera Pallati

Excellent Tool. Thanks

3
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8 months ago

Rahul Jadhav 5 NK 5

It is really helpful, Excellent work....

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8 months ago

Best EMI Calculator ever seen

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8 months ago

kapalavai pavan 5

Easy to understand........good work

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9 months ago

Shoib Khan 5

this is the best tool for EMI calculations..Thanks to developers!!!! its saved lots of time....
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9 months ago

ashok mittal

excellent
5
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http://emicalculator.net/

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Abhishek 5
a year ago

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

Nice work.. thanks

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a year ago

Shailendra 5 Sohil 5 Karesh 6 Bobby 4 VINI 4 George 4

Its a helping tool for those who are poor on maths or cant dig in for sake of time ....
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a year ago

Thanks and nice work

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11 months ago

Great tool! Thanks a lot...

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6 months ago

Outstanding :)
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8 months ago

EXCELLENT...........!!!! G8 THANKS
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8 months ago

Thank you. Awesome work.

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8 months ago

SANTHOSH 4 vivek 4 Dr.Katari 4

REALLY THANKS FOR THE CREATORS..DONE A WONDERFULL JOB..........

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8 months ago

excellent tool
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9 months ago

very good...thank u so much

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9 months ago

Praveen Kumar

Excellent
4
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a year ago

Balaji Aiyyankar 4

it is a superb tool, hardly takes any time, in a jiffy! fantastic!

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3 months ago

Manohar Simhadri 2

Nice UI and very clear explanation... Great Work Guys :)

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3 months ago

manish sharma 2 Abhilash 2

headache free calculation

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8 months ago

Nice tool... Good work.. thanks

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8 months ago

Praveen Goyal

excellent tool
http://emicalculator.net/
2
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EMI Calculator for Home Loan, Car Loan & Personal Loan in India

Load more comments

ALSO ON EMI CALCULATOR

WHAT'S THIS?

EMI Option Boon or Bane

8 comments 2 years ago

Prepayment penalty for floating interest home loans should end: RBI
1 comment a year ago

Venkatesh Yes you are absolutely right. I bought all things

for home via EMI. Yes I am paying extra, but at-least I will have a fear that I have to pay money back and

ravi good for planing , wonderful

Why did RBI ban 0% EMI schemes?

4 comments 4 months ago

House value depreciation what to expect if this happens

1 comment a year ago

Deepesh If i am getting 0 processing fee with 0% EMI why

would i pay lump sump amount. This is just a foolish attempt to curve the economy but intern it will decrease

Pavan If individuals could prepay the depreciated value to

keep the max borrowed money from loan to 85%, why would anyone take loan? Is the bank just a money

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Pre-EMI vs Full EMI Understanding payment schemes for under-construction properties Tax on Home Loan EMI SBI MaxGain Why should you choose this home saver loan? Why did RBI ban 0% EMI schemes? Banks must link disbursal of housing loans to construction stages: RBI Prepayment on home loan EMI in advance vs. EMI in arrears How do I calculate Floating Interest Rate EMI? Need advice on home loan Need clarification on EMI Amount Principal and Interest parts of EMI Question on loan tenure Calculating Loan tenure

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