Calculate your monthly EMI, total interest, and see a full month-by-month repayment schedule — free and instant.
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay to the bank every month to repay a loan. Each EMI has two parts — a principal component (the amount that reduces your loan) and an interest component (the bank's charge for lending).
In the early months of a loan, most of your EMI goes toward interest. As you keep paying, the principal component gradually increases. This is called an amortizing loan.
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
Compare the latest home loan, car loan, and personal loan interest rates from major Indian banks. Rates are indicative — check with the bank for your exact rate based on credit score.
| Bank | Home Loan | Car Loan | Personal Loan |
|---|---|---|---|
| SBI | 8.50% – 9.85% | 8.75% – 10.25% | 11.00% – 14.00% |
| HDFC Bank | 8.70% – 9.95% | 9.00% – 11.00% | 10.50% – 24.00% |
| ICICI Bank | 8.75% – 10.05% | 9.10% – 12.85% | 10.65% – 16.00% |
| Axis Bank | 8.75% – 9.10% | 9.25% – 13.50% | 10.49% – 22.00% |
| Kotak Mahindra | 8.75% – 9.50% | 8.99% – 13.00% | 10.99% – 20.00% |
| PNB | 8.50% – 10.25% | 8.75% – 10.25% | 10.40% – 16.95% |
* Rates are indicative as of 2025. Actual rates depend on credit score, loan amount, and tenure. Always verify with the bank.
Home loan rates in India typically range from 8.5% to 10.5% per annum depending on the bank and your credit score. SBI, HDFC, ICICI, and Axis Bank are major home loan lenders. Use our home loan EMI calculator to calculate your EMI at any rate.
You can reduce your EMI by: (1) increasing the loan tenure — longer tenure means smaller EMI but more total interest; (2) negotiating a lower interest rate with your bank; (3) making a larger down payment to reduce the principal; (4) making part-prepayments during the loan to reduce the outstanding balance.
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