EMI Calculator 2026: Home Loan, Car Loan & Personal Loan EMI

Home loan EMI calculator: EMI for ₹20 lakh to ₹1 crore

Monthly EMI at 7.5% — an illustration rate between SBI's 7.25% starting rate and HDFC Bank's 7.75%:

Rounded to the rupee. Banks may differ by a few rupees because of rounding and the disbursement date.

Home loan EMI per lakh at current rates

Multiply by the number of lakhs you borrow. ₹50 lakh at 7.50% for 20 years = 50 × the 20-year figure.

Home loan interest rates October 2026: SBI, HDFC Bank, ICICI Bank

On ₹50 lakh for 20 years, the published starting rates mean an EMI of about ₹39,519 at SBI (7.25%), ₹41,047 at HDFC Bank (7.75%) and ₹43,391 at ICICI Bank's standard 8.50%. The lowest rates go to borrowers with high credit scores; your sanction letter is the number that counts.

RBI repo rate 5.25% and your home loan EMI (as of 3 October 2026)

The RBI website shows a policy repo rate of 5.25%, standing deposit facility 5.00% and marginal standing facility 5.50% as of 3 October 2026. HDFC Bank prices home loans as repo + 2.50% to 7.95%; SBI uses its EBLR (7.90% from 15 December 2025) plus spreads. When the repo rate changes, repo-linked loans reset — at least once every three months under RBI rules. Banks usually keep the EMI and stretch or shorten the tenure, unless that would cross the maximum tenure.

Scenario table, not a forecast. Moves are applied from day one for simplicity; in practice they apply from the reset date to the outstanding balance.

Home loan prepayment calculator: how much interest you save

₹50 lakh for 20 years at 7.5% (EMI ₹40,280, total interest ₹46,67,118). One-time prepayment made right after the 12th EMI:

Or pay a little extra every month from the first EMI:

Banks and NBFCs cannot charge pre-payment penalties on floating-rate loans to individuals for non-business purposes, under the RBI (Pre-payment Charges on Loans) Directions, 2025 (loans sanctioned or renewed on or after 1 January 2026; older home loans were already covered by earlier RBI circulars). Before prepaying, keep your emergency fund intact and compare the loan rate with what the money could earn after tax — the FD calculator and SIP calculator help with that comparison.

Home loan amortisation schedule (₹50 lakh, 20 years)

In year 1, 77% of what you pay is interest. Principal overtakes interest only around year 12 — which is why early prepayments save the most.

Car loan EMI calculator

Most new-car loans are fixed-rate, so the RBI no-penalty rule for floating loans does not apply automatically: HDFC Bank, for example, lists foreclosure charges of up to 6% of principal outstanding in year 1. A shorter tenure cuts interest sharply — ₹10 lakh over 3 years costs ₹1,44,790 in interest versus ₹3,51,483 over 7 years at 9%.

Personal loan EMI calculator

Personal loans are unsecured and usually fixed-rate; check the processing fee (HDFC Bank: up to ₹6,500 + GST; ICICI Bank: up to 2% + taxes) and foreclosure charges (ICICI Bank: 3%, nil after 24 EMIs; HDFC Bank: 2%–4%) in the Key Facts Statement. A personal loan to fund investments rarely makes sense when the loan costs 10%–24%.

EMI formula

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

• P = loan amount, r = annual rate ÷ 12 ÷ 100, n = number of monthly EMIs
• Each month: interest = outstanding balance × r; principal repaid = EMI − interest.

Example: ₹50 lakh, 7.5%, 240 months → r = 0.6250% a month → EMI ≈ ₹40,280; total paid ₹96,67,118, of which interest ₹46,67,118.

Reduce EMI or reduce tenure?

When you prepay, banks let you either keep the EMI (loan ends earlier) or keep the end date (EMI falls). Keeping the EMI saves ₹13,00,455 on a ₹5 lakh prepayment in our example versus ₹4,39,450 by cutting the EMI — choose the lower EMI only if you need the monthly cash flow. If your loan rate is below what you can reasonably earn after tax over the same period, investing the surplus through a SIP can be the better use of money, but it carries market risk while prepayment is a guaranteed saving.