Personal Loan EMI Calculator | Calculate Monthly Loan Payments

Benchmark Bank Home Loan Interest Rates 2026

• State Bank of India (SBI): 8.40% – 9.15% p.a. | Zero processing fee campaigns available
• HDFC Bank: 8.50% – 9.40% p.a. | Rapid digital sanction and flexible part-prepayment
• ICICI Bank: 8.75% – 9.50% p.a. | Instant online approval for pre-approved customers
• Axis Bank: 8.70% – 9.45% p.a. | Competitive balance transfer terms
• Kotak Mahindra Bank: 8.75% – 9.50% p.a. | Digital-first home loan process
• LIC Housing Finance: 8.45% – 9.20% p.a. | Trusted government-backed lender

Types of Loans – EMI Calculation at a Glance

• Home Loan: Typical 8.4%–9.5% p.a., tenure 10–30 years. ₹25 lakh @ 8.5% for 20 years → EMI: ₹21,696
• Car Loan: Typical 8.5%–12% p.a., tenure 1–7 years. ₹8 lakh @ 9% for 5 years → EMI: ₹16,607
• Personal Loan: Typical 10.5%–24% p.a., tenure 1–5 years. ₹5 lakh @ 14% for 3 years → EMI: ₹17,089
• Bike/Two-Wheeler Loan: Typical 9%–18% p.a., tenure 1–3 years. ₹1 lakh @ 12% for 2 years → EMI: ₹4,707
• Business Loan: Typical 12%–24% p.a., tenure 1–5 years. Rate depends on business vintage and turnover.

Impact of Tenure on EMI (₹25 Lakh Loan @ 8.5%)

• 10 Years: EMI ₹30,992 | Total Interest ₹12,19,040 | Total Repayment ₹37,19,040
• 15 Years: EMI ₹24,618 | Total Interest ₹19,31,240 | Total Repayment ₹44,31,240
• 20 Years: EMI ₹21,696 | Total Interest ₹27,07,034 | Total Repayment ₹52,07,034
• 25 Years: EMI ₹20,131 | Total Interest ₹35,39,300 | Total Repayment ₹60,39,300
• 30 Years: EMI ₹19,223 | Total Interest ₹44,20,280 | Total Repayment ₹69,20,280

How Prepayment Reduces Loan Tenure & Interest

Making one extra EMI each year or prepaying 5% of outstanding principal annually can reduce a 20-year home loan by 4–7 years, saving lakhs in interest. RBI mandates zero prepayment penalty on floating rate loans.

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Frequently Asked Questions (FAQs)

What is the EMI for a ₹30 lakh home loan at 8.5% for 20 years?

Monthly EMI is ₹26,035. Total interest over 20 years is ₹32,48,320. Total repayment is ₹62,48,320.

What is the EMI for a ₹50 lakh home loan at 8.5% for 20 years?

Monthly EMI is ₹43,391. Total interest is ₹54,13,867. Total repayment is ₹1,04,13,867.

What is the EMI for a ₹1 crore home loan at 8.5% for 20 years?

Monthly EMI is ₹86,782. Total interest is ₹1,08,27,734. Total repayment is ₹2,08,27,734.

How does EMI change with interest rate?

On a ₹30 lakh loan for 20 years: at 8.5% → EMI ₹26,035; at 9% → EMI ₹26,992; at 9.5% → EMI ₹27,964. Even 0.5% extra = ₹2.3 lakh more interest over tenure.

What is the FOIR rule used by banks for loan approval?

Fixed Obligation to Income Ratio (FOIR) restricts your total monthly EMIs to 40–50% of net monthly income to ensure comfortable debt repayment capacity.

What is reducing balance EMI calculation?

Each EMI contains principal + interest. Interest applies only to outstanding balance, so interest component reduces each month while principal component increases — ensuring zero balance at tenure end.

Is prepayment of home loan beneficial?

Yes. Prepaying ₹1 lakh on a ₹30 lakh loan at 8.5% at year 5 saves ₹2.3–3.1 lakh in interest and reduces tenure by 11–15 months. RBI prohibits prepayment penalty on floating rate loans.

What is the difference between EMI and Pre-EMI?

EMI includes both principal and interest repayment and applies to fully disbursed loans. Pre-EMI covers only interest during partial disbursement (common in under-construction properties).

Can I use EMI calculator for SBI home loan?

Yes. Enter SBI's current rate (8.40–9.05%) as the annual interest rate, your loan amount, and tenure to instantly get your SBI home loan EMI, total interest, and amortization schedule.

What is LTV ratio in home loans?

Loan-to-Value (LTV) ratio is the loan amount as a percentage of property value. RBI mandates: loans up to ₹30 lakh → max 90% LTV; ₹30–75 lakh → 80%; above ₹75 lakh → 75%.