Plan your repayment before you apply.
See the monthly instalment, total interest and total payable for a loan against property or vehicle loan. Adjust the amount, rate and tenure to find a plan that fits.
Plan your repayment
Your estimated EMI
Illustrative reducing-balance calculation. Inputs are assumptions, not company pricing. Fees, taxes, insurance and broken-period interest are excluded.
- Principal₹25,00,000
- Total interest₹18,04,128
How it works
Understanding your EMI.
Your EMI is calculated on a reducing balance: interest each month is charged only on the principal still outstanding. In the early months most of the EMI goes towards interest; later, more of it repays principal.
The formula is EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly rate and n is the number of months.
Three things set your EMI
- Loan amount (principal)
- Rate of interest per year
- Tenure in months
Borrow smarter
Tips for a comfortable EMI.
Longer tenure, lower EMI
Stretching the tenure lowers each instalment, but you pay more interest overall. Pick the shortest tenure you can comfortably afford.
Prepay when you can
Part-prepayments reduce the outstanding principal, so less interest builds up on the remaining balance.
Look at the total cost
Compare loans on the total amount payable and all charges in the Key Fact Statement, not the rate alone.
Keep a buffer
As a rule of thumb, keep all your EMIs together well within what your monthly income can carry, leaving room for emergencies.
An Equated Monthly Instalment is the fixed amount you pay every month until the loan is repaid. Each EMI has two parts: interest on the outstanding balance and a repayment of principal.
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