EMI Calculator for Home Loan, Car Loan, Personal Loan, Gold Loan, Vehicle Loan

EMI Calculator Home Loan, Personal Loan, Education Loan, Car Loan, Gold Loan etc.

Calculate EMI (Equated Monthly Installment)


EMI Calculator / Monthly Installment Calculator

What is Loan Amount/Principal Amount ?

A maximum loan amount describes the total amount that a borrower is authorized to borrow. Maximum loan amounts are used in standard loans, credit cards and line of credit accounts.

% What is Interest Rate ?

An interest rate is the cost of borrowing money, or conversely, the income earned from lending money. Interest rates are expressed as percentage of the principal per period.

What is Loan Tenure/Term ?

Period from the date of disbursement of loan to the date of the last EMI payment or the date of closure of loan.

Types of Loans

  • Home Loan
  • Personal Loan
  • Car Loan
  • Gold Loan
  • Credit Card Loans
  • Education Loans
  • Loan Against the Insurance Schemes
  • Loan Against Fixed Deposits

What is EMI?

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.

Here’s the formula to calculate EMI:

EMI Formula


E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis.

n is loan term / tenure / duration in number of months

Compare Home Loan Interest Rates (August 2019)

Bank Interest rates Processing Fee
SBI Home loan 8.40% onwards 0.35% – 0.50% of the loan amount (Min. of Rs. 2,000; Max. of Rs. 10,000)
HDFC LTD Bank Home loan 8.55% onwards Up to 0.5% of loan amount
ICICI Bank Home loan 8.70% onwards 0.5% – 1.00% of loan amount (Min. of Rs. 1,500)
LIC Housing Finance 8.40% onwards -
Indiabulls Housing Finance 8.80% onwards Up to 1% of loan amount
PNB Housing Finance Limited Home loan 9.25% onwards Up to 1% of loan amount

Compare Personal Loan Interest Rates (August 2019)

Banks Interest Rate
SBI Personal Loan 12%
ICICI Personal Loan 11.25%
HDFC Personal Loan 11.25%
Axis Bank Personal Loan 15.75%
Bajaj Finserv Personal Loan 12.99%
Standard Chartered 10.89%

Compare Gold Loan Interest Rates (August 2019)

Banks Interest Rate Processing fee
HDFC Gold Loan 10.50% – 15% 0.50% -2% of the loan amount
Muthoot Gold Loan 12% onwards 0.25% to 1% of loan sanctioned
Manappuram Gold Loan Up to 29% Varies on a case by case basis
ICICI Bank Gold Loan 10.50% onwards 1% of loan amount
SBI Gold Loan 11.05% onwards 0.5% of loan amount
Axis Bank Gold Loan 14.75% – 17.25% 1% of loan amount