Calculate EMI, check affordability, and discover how much prepayment saves you.
See exactly how much interest you save by paying extra every month or a one-time lumpsum.
| Bank | Home Loan | Car Loan | Personal Loan |
|---|---|---|---|
| SBI | 8.50–9.65% | 8.75–9.80% | 11–15% |
| HDFC Bank | 8.70–9.95% | 9.00–10.5% | 10.5–24% |
| ICICI Bank | 8.75–10.05% | 9.00–10.5% | 10.75–22% |
| Axis Bank | 8.75–10.30% | 9.25–11% | 10.49–22% |
| Kotak Bank | 8.70–9.90% | 9.25–11% | 10.99–24% |
Rates vary by CIBIL score, income and loan amount. Verify with your bank.
| Year | Principal (₹) | Interest (₹) | Balance (₹) | % Paid |
|---|
Enter your loan amount, interest rate, and loan tenure to instantly see your monthly EMI. Switch between Home Loan, Car Loan, and Personal Loan tabs — each pre-fills typical interest rate ranges used by Indian banks in 2026.
The Affordability Check tab lets you enter your monthly income and the calculator tells you the maximum loan amount you qualify for — based on the standard 40–50% EMI-to-income ratio used by Indian banks (SBI, HDFC, ICICI, Axis).
The Prepayment Impact tab shows exactly how much interest you save — and how many months earlier you close the loan — by paying extra every month or making a one-time lumpsum payment.
This calculator uses the standard reducing-balance EMI formula used by all Indian banks and the RBI:
Where P = Principal loan amount · R = Monthly interest rate (Annual rate ÷ 12 ÷ 100) · N = Total number of monthly instalments
Example: ₹50 lakh home loan at 8.5% for 20 years → R = 8.5÷12÷100 = 0.00708 · N = 240 · EMI = ₹43,391/month · Total interest paid = ₹54.1 lakh
| Bank | Rate (p.a.) | Processing Fee |
|---|---|---|
| SBI Home Loan | 8.50%–9.85% | Nil–₹10,000 |
| HDFC Bank | 8.75%–9.65% | Up to 0.50% |
| ICICI Bank | 8.75%–9.80% | Up to 0.50% |
| Axis Bank | 8.75%–13.30% | Up to 1% |
| Kotak Mahindra | 8.75%+ | Up to 0.25% |
* Rates indicative. Actual rate depends on credit score, income, and lender policy. Verify with your bank before applying.
IMPROVE YOUR CREDIT SCORE FIRST
A CIBIL score above 750 gets you the lowest interest rates. Each 0.25% reduction on a ₹50L loan saves ~₹8,000/year in interest.
CHOOSE THE LONGEST TENURE YOU CAN AFFORD
A 30-year loan has lower EMI than 20 years — freeing cash flow. Then prepay aggressively to cut the actual interest paid. Best of both worlds.
PREPAY WITH EVERY ANNUAL BONUS
A ₹1 lakh prepayment in the first 5 years of a 20-year loan at 8.5% saves approximately ₹2–2.5 lakh in total interest.