Calculate your Equated Monthly Instalment (EMI) for home loan, car loan, personal loan, gold loan, and education loan. Enter your loan amount, interest rate, and tenure to instantly see your monthly EMI, total interest payable, and full amortization schedule. Compare rates from SBI, HDFC, ICICI & more. Works in Hindi, Tamil, Telugu & 9 Indian languages.
Last updated: June 2026 | Interest rates as per latest RBI data
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Monthly EMI
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How to Use
Enter the loan amount in rupees
Enter the annual interest rate
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Click Calculate to see your monthly EMI
Overdraft (OD) Interest Calculator
Unlike an EMI loan, an overdraft charges interest only on the amount you actually use, and only for the days you use it. Enter your details below to find your exact OD interest.
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How Overdraft Interest is Calculated
OD Interest = Amount Utilized × (Interest Rate ÷ 100) × (Days ÷ 365). Interest accrues daily on the outstanding balance, so repaying early directly reduces your cost. This is why an overdraft is often cheaper than a term loan for short-term, fluctuating cash needs.
Home Loan Interest Rates 2026 — Top Banks
Bank
Rate (p.a.)
Processing Fee
Max Tenure
SBI
8.25% - 9.15%
0.35% of loan
30 years
HDFC Bank
8.35% - 9.25%
0.50% of loan
30 years
ICICI Bank
8.40% - 9.30%
0.50% of loan
30 years
Bank of Baroda
8.30% - 9.20%
₹8,500 flat
30 years
Kotak Mahindra
8.50% - 9.40%
0.50% of loan
25 years
Axis Bank
8.45% - 9.35%
1% of loan
30 years
*Rates are indicative and subject to change. Check with respective banks.
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Frequently Asked Questions — EMI Calculator
EMI (Equated Monthly Instalment) is a fixed payment made to a lender each month. The formula is: EMI = P × r × (1+r)^n / ((1+r)^n – 1), where P = principal, r = monthly interest rate (annual rate/12/100), n = total months. For example, a ₹10 lakh loan at 9% for 5 years gives EMI of ₹20,758.
The monthly EMI is approximately ₹26,035. Over 20 years, you will pay total interest of ₹32.48 lakhs, making the total repayment ₹62.48 lakhs. You can reduce this by making prepayments or choosing a shorter tenure.
SBI currently offers the most competitive rates starting at 8.25% for salaried individuals with CIBIL 750+. Bank of Baroda and LIC Housing Finance also offer rates in the 8.30-8.40% range. Your actual rate depends on CIBIL score, employment type, loan amount, and property location.
5 ways to reduce EMI: 1) Extend the loan tenure (20→30 years can reduce EMI by 15-20%), 2) Make a larger down payment, 3) Improve CIBIL score to 750+ for better rates, 4) Balance transfer to a bank with lower rates, 5) Negotiate with your current bank for a rate reduction citing competitor offers.
Flat rate charges interest on the full loan amount throughout. Reducing balance charges interest only on the outstanding amount (which decreases monthly). Banks use reducing balance. A flat rate of 10% is equivalent to ~18% reducing balance. Always compare loans on reducing balance basis.
Disclaimer:This calculator is for educational purposes only. Consult a financial advisor for investment decisions. Actual values may vary based on lender terms.