Enter the loan amount, interest rate and tenure to see your monthly EMI, the total interest you will pay and the total amount payable.
An equated monthly instalment (EMI) is a fixed amount you pay every month until the loan is repaid. Each EMI covers part of the interest and part of the principal. Early in the loan most of the EMI is interest; later, more of it reduces the principal.
For a loan of ₹30,00,000 at 8.5% a year for 20 years:
Illustrative figures only. Your own rate and tenure will change the result.
Each loan page has the same calculator, with the loan details and PSU bank options for that type of loan.
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (tenure in years × 12).
The three inputs: the loan amount, the interest rate and the tenure. A longer tenure lowers the monthly EMI but increases the total interest you pay over the loan.
No. It is an indicative estimate for information only. The rate, any processing fee and the final EMI are decided by the lending PSU bank after its own checks.
No. It does not pull your credit score or create a credit report. Your score affects the rate a bank offers, so the rate you enter should be the one you expect or have been quoted.
Yes. Enter the amount, the rate and the tenure for any loan. The result is the same calculation whatever the loan type; the rate and tenure you enter decide the figures.
Indicative estimate for information only. It is not a loan offer or a credit decision. Actual rates and amounts depend on the lender’s own assessment.
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