Plan your home loan, car loan, personal loan or education loan in seconds. Enter the principal, interest rate and tenure — see your monthly EMI, total interest payable, total amount and a year-by-year breakdown, all shown in both English and Assamese (অসমীয়া) numerals. Runs entirely in your browser — your loan details never leave your device.
| Year | Principal paid | Interest paid | Balance left |
|---|
An EMI (Equated Monthly Installment) is the fixed amount you pay your bank every month to repay a loan. It includes both the principal you borrowed and the interest the bank charges. This calculator uses the exact mathematical formula banks use, so the EMI you see here will match what your bank quotes (to the nearest rupee).
8.5 for 8.5% per year.EMI is calculated using the standard reducing-balance formula used by every bank in India:
Example: For a ₹10,00,000 loan at 8.5% for 20 years (240 months), the monthly EMI works out to ₹8,678 — and you end up paying ₹20,82,786 in total, of which ₹10,82,786 is interest.
Indicative ranges — actual rates depend on your bank, CIBIL score, employer category and loan-to-value ratio:
| Loan type | Typical rate (p.a.) | Typical tenure |
|---|---|---|
| Home loan | 8.35% – 9.50% | 15 – 30 years |
| Car loan (new) | 9.00% – 11.50% | 3 – 7 years |
| Two-wheeler loan | 10.50% – 14.00% | 1 – 4 years |
| Personal loan | 10.50% – 18.00% | 1 – 5 years |
| Education loan | 8.75% – 12.50% | 5 – 15 years |
| Gold loan | 8.50% – 18.00% | 3 months – 3 years |
This is a 100% browser-based tool. Your loan amount, interest rate and tenure are processed locally by JavaScript and never sent to any server — no logs, no analytics on what you entered, no third-party tracking. You can use it offline once the page is loaded.
EMI stands for Equated Monthly Installment — the fixed amount you pay your bank every month to repay a loan. Each EMI is split into two parts: interest (which is higher in the early months) and principal (which grows over time). After your final EMI, the loan is fully closed.
The formula is EMI = P × r × (1+r)n / ((1+r)n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the loan tenure in months. This calculator uses that exact formula and shows results in both English and Assamese numerals.
Yes. The EMI formula is the same across all loan types — home loan, car loan, personal loan, education loan or two-wheeler loan. Just enter the loan amount, the interest rate your bank quoted, and the tenure in years or months.
Fixed rate stays the same for the whole tenure — your EMI never changes. Floating rate moves with the bank's benchmark (repo rate) — your EMI may go up or down. This calculator assumes a fixed rate for the entire tenure, which is the standard way EMI is quoted.
In the early months, the outstanding principal is high, so the interest portion of each EMI is also high. As you keep paying, the principal balance falls — so the interest portion shrinks and the principal portion grows. The amortization breakdown above shows this year by year.
No. All calculations happen in your browser using JavaScript. Your loan amount, interest rate and tenure never leave your device — nothing is sent to our server, logged or shared with third parties.
Yes. Most banks allow part-prepayment (especially on home loans with floating rates). Every prepayment reduces the outstanding principal, which reduces future interest. This calculator shows the base scenario without prepayment — your real interest saved with prepayments will be lower than shown.