Free tool
Loan EMI calculator
See your monthly instalment, total interest and repayment schedule instantly.
Monthly EMI
₹53,735
- Principal
- ₹25,00,000
- Total interest
- ₹7,24,085
- Total amount payable
- ₹32,24,085
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹4,01,263 | ₹2,43,554 | ₹20,98,737 |
| 2 | ₹4,45,484 | ₹1,99,333 | ₹16,53,253 |
| 3 | ₹4,94,578 | ₹1,50,239 | ₹11,58,675 |
| 4 | ₹5,49,082 | ₹95,735 | ₹6,09,593 |
| 5 | ₹6,09,593 | ₹35,224 | ₹0 |
Before you sign
The EMI is only one line
A longer tenure looks cheaper each month and costs more in interest. The other lines sit on the lender’s Key Fact Statement.
Fixed or floating
A fixed rate keeps the EMI steady. A floating rate moves with the lender’s benchmark. Home loans are often floating. Many business loans are fixed. Ask which one is on the offer.
EMI against total interest
A longer tenure lowers the monthly figure and raises the interest you pay in total. The calculator shows both. Pick the one the cash flow can carry.
Processing fee
The lender sets it, and it has to appear on the Key Fact Statement before you accept. Checking a file with LoanRaasta is free.
Early closure
Ask the lock-in and the foreclosure charge. A home loan and a business loan do not follow the same rule. The charge belongs on the Key Fact Statement.
Anything bundled
Insurance or a card sold with the loan is a separate product, with its own price. You can refuse what you do not need.
Secured or unsecured
Pledging property usually lowers the rate and slows the file, because of valuation and title. An unsecured loan is faster and priced higher.
Understanding EMI
EMI basics
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.
How can I reduce my EMI?
Choose a longer tenure, negotiate a lower rate, make a larger down payment, or transfer your loan to a lender with a lower rate. A longer tenure lowers the EMI but raises the total interest you pay.
Is the EMI fixed for the entire tenure?
For fixed-rate loans, yes. Most home loans and many business loans are floating-rate, so the EMI or tenure can change when the benchmark rate changes.
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