💸 Free Online Loan EMI Calculator
Easily calculate your monthly EMI, total interest payable, and total loan repayment for home loans, car loans, personal loans and more. No signup needed!
📌 What is EMI?
EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. It includes both the interest and the principal amount.
📈 Loan Interest Rate Comparison (2025)
| Loan Type | Interest Rate | Tenure |
|---|---|---|
| Home Loan | 8% – 9.5% | Up to 30 years |
| Personal Loan | 10% – 16% | 1 – 5 years |
| Car Loan | 7.5% – 11% | 3 – 7 years |
🧠FAQs
1. How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1], where P = Principal, R = Monthly interest rate, and N = Number of monthly installments.
2. Can I reduce my EMI?
Yes. You can reduce EMI by increasing the tenure or prepaying part of the loan.
3. Is EMI same for all loan types?
No. EMI depends on the loan amount, interest rate, and tenure, which vary between loan types (home, personal, auto, etc.).