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EMI Calculator

Q: How is EMI calculated?

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months. Indian lenders use monthly reducing balance.

Q: Is it better to reduce tenure or EMI after prepayment?

Reducing tenure almost always saves more interest — often 2–3x more — because the loan ends sooner and interest stops compounding.

Q: When does prepayment save the most?

Early in the loan, when most of the EMI is interest. The same amount prepaid in year 2 vs year 12 can save several times more interest.

Q: Can lenders charge for prepayment?

For floating-rate home loans, the RBI prohibits prepayment charges. Fixed-rate loans and some personal/auto loans may charge 2–4%.

Q: Should I prepay my loan or invest the money?

Prepaying earns a guaranteed return equal to your loan's interest rate; investing might earn more but with risk.

Q: Is my data private on this calculator?

Completely. Everything runs in your browser — no account, no uploads, no tracking.

Plan any loan — home, car, personal — with the depth bank calculators won't give you: prepayments, rate shocks, true cost, and honest answers in plain words.

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Private by design

The calculator

Your loan, computed live

Loan amount

₹

Interest rate (p.a.)

Loan tenure

EMI starts

Fees, charges & step-up EMI

Processing fee (₹)

Processing fee (%)

Prepayment charge (%)

Stamp duty + registration (₹)

Step-up EMI (% rise)every 12 months

Monthly EMI

—

Total interest

—

Total payable

—

True cost (with fees)

—

Where your money goes

Principal vs interest over the full loan

——

Balance over time

Outstanding loan and cumulative interest, month by month

Loan balance Interest paid so far

Prepayment simulator

See exactly what extra payments do — when you pay matters as much as how much.

Apply prepayments to

One-time prepayments

Recurring prepayment

Extra amount (₹)

Frequency

Starts

No. of payments0 = until loan ends

Side by side

Reverse solve

Start from what you can pay, and work backwards.

EMI you can pay (₹)

Interest rate (p.a. %)

Tenure

You can borrow

—

Should I prepay?

You have surplus cash. Three honest options, ranked by what leaves you richer when the loan ends.

Surplus amount (₹)

Expected investment return (% p.a.)

Balance-transfer rate (% p.a.)

Transfer cost: fees + charges (₹)

Ranked by net benefit at loan maturity

This compares rupee outcomes, not life outcomes. Keep an emergency fund before prepaying, and remember floating-rate home loans carry zero prepayment charge by RBI rule.

Rate lab

Most Indian loans float. See what happens when rates move — before the bank tells you.

Shock scenarios

What if your rate changes tomorrow? Tenure stays, EMI is re-priced.

Rate change	New rate	New EMI	EMI change

Model rate changes mid-loan

Add the rate revisions you expect. The schedule, charts and totals above update instantly.

Affordability & tax

Borrow what you can carry — and know what the taxman gives back.

Net monthly income (₹)

Existing EMIs (₹)

Home-loan tax benefit

Tax slab (%)

Regime

Tax saved (year 1)

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Net interest cost (year 1)

—

Old regime: 24(b) deducts up to ₹2L interest, 80C up to ₹1.5L principal. New regime: no housing-loan benefit on self-occupied property. Simplified for illustration.

Amortization schedule

Every rupee, every month. Calendar-aligned to your EMI start month.

Questions

EMI, explained

How is EMI calculated?

Is it better to reduce tenure or EMI after prepayment?

When does prepayment save the most?

Can lenders charge for prepayment?

What is a balance transfer, and when is it worth it?

Should I prepay my loan or invest the money?

What happens if interest rates rise on my floating loan?

Is my data private on this calculator?

Assumptions & limitations

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