Calculate your monthly EMI for any loan — home, business, car, or personal. Get a full amortization schedule and interest breakdown instantly, free.
Principal Amount
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Total Interest
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Total Payable
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Year-wise Amortization Schedule
Year
Principal (₹)
Interest (₹)
Total Paid (₹)
Balance (₹)
EMI Calculator FAQs
EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1] where P = Principal loan amount, R = Monthly interest rate (Annual Rate ÷ 12 ÷ 100), N = Number of monthly instalments. Example: ₹10L loan at 10% p.a. for 5 years → EMI = ₹21,247/month.
Most Indian banks follow the FOIR (Fixed Obligation to Income Ratio) rule: total EMIs should not exceed 40–50% of gross monthly income. For business loans, lenders typically require DSCR (Debt Service Coverage Ratio) of at least 1.25×.
For floating rate loans in India, RBI regulations prohibit banks from charging prepayment penalties. Prepayments can either reduce your EMI amount (same tenure) or reduce the tenure (same EMI), depending on your preference. Reducing tenure saves more interest overall.
Business loan rates in India (2026): PSU banks: 9–12% p.a., Private banks: 11–16% p.a., NBFCs: 14–24% p.a., Mudra loans: 8.5–12% p.a. Rates depend on credit score, business vintage, turnover, and collateral.
