Calculate your loan EMI
Pick a loan type to load typical starting figures, or enter your own loan amount, interest rate and tenure below. The result updates instantly as you type.
Your monthly EMI
₹0
for 0 months at 0% p.a.
Year-wise loan repayment schedule
See exactly how much of each year's payments go towards principal versus interest, and how your outstanding balance shrinks over the loan tenure.
| Year | Principal paid | Interest paid | Balance remaining |
|---|
| Month | EMI | Principal | Interest | Balance |
|---|
How is EMI calculated?
Every EMI calculator, including this one, uses the same standard reducing-balance formula prescribed by lenders.
Principal — the loan amount you borrow.
Monthly interest rate — your annual rate divided by 12 and by 100.
Tenure in months — the total number of EMIs you will pay.
Each EMI is split into an interest portion and a principal portion. Early in the loan, interest makes up the larger share because the outstanding balance is high. As the balance falls, more of each instalment chips away at the principal — which is exactly what the year-wise schedule above shows.
EMI calculator for every type of loan
The same formula applies whether you're financing a house, a car, a degree or a personal expense — only the typical rate and tenure differ.
Home loan EMI
Home loans usually carry the lowest interest rates and the longest tenures, often stretching up to 30 years, since the property itself secures the loan.
Car loan EMI
Car loans are typically repaid over 3 to 7 years. Rates run a little higher than home loans, and a larger down payment usually brings your EMI down further.
Personal loan EMI
Personal loans are unsecured, so rates are higher and tenures shorter — generally 1 to 5 years. Use the calculator to check the EMI before you borrow.
Education loan EMI
Education loans often include a moratorium period during studies, with EMIs starting once the course ends or after a short grace period.
If you're already repaying a purchase through card instalments, it's worth comparing your options — see how ICICI Bank credit cards stack up on interest rates, EMI conversion charges and rewards before your next big purchase.
Plan the rest of your finances
An EMI is just one piece of the puzzle. These tools and guides from SearchLocally cover the rest.
Find your bank's IFSC code
Setting up auto-debit or a NACH mandate for your EMI? You'll need your branch's IFSC code — look it up instantly.
Find IFSC code → Credit cardsICICI Bank credit cards
Compare ICICI Bank credit card options, interest rates and EMI conversion offers if you're managing card-based instalments too.
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Read the guide →Frequently asked questions
EMI stands for Equated Monthly Instalment — a fixed amount you pay every month towards a loan. Each EMI covers part of the principal and part of the interest, and stays the same throughout the tenure (for a fixed-rate loan).
EMI is calculated from the loan amount, the monthly interest rate and the tenure in months, using the reducing-balance formula shown in the "How is EMI calculated" section above.
After a part-prepayment, most lenders let you choose between a lower EMI with the same tenure, or the same EMI with a shorter tenure. Keeping the EMI the same and shortening the tenure usually saves more total interest.
You'll typically need your bank account number, your branch's IFSC code, and a cancelled cheque or recent statement for a NACH mandate. You can look up any branch's IFSC code using our IFSC code finder.
Yes — the formula is identical for every instalment loan. Use the quick-fill chips at the top of the calculator to load typical figures for a home, car, personal or education loan, then adjust them to match your own offer.