EMI calculator for home, car and personal loans
Enter the loan amount, the yearly interest rate and the loan period to see your monthly EMI, the total interest you will pay, and what a small rate rise would cost you.
This is an estimate. Your bank's EMI can differ because of processing fees, insurance and how it rounds. Check the loan offer from your bank. This is general information and not financial advice.
Why interest rates matter
When the RBI raises the repo rate, banks usually raise the rates on floating-rate loans over time. The table above shows what even a small rise of 0.25 percentage points does to your monthly EMI and to the total cost of the loan.
Ways to reduce what you pay
Paying a little extra towards the principal when you can, choosing a shorter period if your budget allows, and comparing offers from a few banks can all lower the total interest. Compare the full cost, not just the interest rate.
Also try the SIP calculator and the FD calculator.