Calculator
Work out the EMI, total interest, and payoff for any loan.
Monthly EMI
₹43,391
FAQ
EMI uses the formula P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate, and n is the number of months. Every EMI covers part interest and part principal.
Most lenders let you choose — reduce the tenure (more interest saved) or reduce the EMI (more monthly cashflow). Tenure reduction usually saves more money overall.
Under the old tax regime, principal repayment qualifies for 80C and interest for Section 24(b) up to ₹2 lakh per year on a self-occupied property. The new regime removes most of these benefits.
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