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Loan EMI Calculator

Calculate monthly installments, total interest payable, and repayment schedules for home, car, and personal loans.

₹ 10,00,000
₹
8.5 %
%
Years

EMI Calculation Summary

96 Months (8.0 Yrs)
Monthly Loan EMI: ₹ 14,392
Principal Loan Amount: ₹ 10,00,000
Total Interest Payable: ₹ 3,81,644
Total Payment (Principal + Interest): ₹ 13,81,644
Disclaimer: This calculation is based on standard reducing balance interest schedules. Actual lending charges, processing fees, and GST may vary across specific banks and financial institutions.

Frequently Asked Questions

1. How is monthly loan EMI calculated?
Monthly EMI is calculated on a reducing balance basis: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P is Principal, R is monthly interest rate (Annual Rate / 12 / 100), and N is total tenure in months.
2. Does choosing a longer tenure reduce my overall interest?
No. While a longer tenure reduces your monthly installment (EMI), it increases the total cumulative interest paid over the entire term of the loan.