Calculator Inputs
Live CalculationTotal Annual PT Deduction: ₹ 0
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Formula Details
Equated Monthly Installments (EMI) are calculated using the standard reducing balance amortization model.
EMI
Equated Monthly Installment
P
Principal Loan Amount borrowed
r
Monthly interest rate (Annual Rate / 12 / 100)
n
Total loan repayment tenure in months (Years × 12)
Reference Deck
Sample projections under common configurations.
| Scenario | Short-Term | Medium-Term | Long-Term |
|---|---|---|---|
| ₹20 Lakh Home Loan (8.5% p.a.) | 10 Yrs EMI: ₹24,797 | 15 Yrs EMI: ₹19,695 | 20 Yrs EMI: ₹17,356 |
| ₹50 Lakh Home Loan (8.5% p.a.) | 10 Yrs EMI: ₹61,993 | 15 Yrs EMI: ₹49,237 | 20 Yrs EMI: ₹43,391 |
| ₹5 Lakh Personal Loan (12% p.a.) | 3 Yrs EMI: ₹16,607 | 5 Yrs EMI: ₹11,122 | 7 Yrs EMI: ₹8,812 |
FAQs
Reducing balance amortization means that interest is calculated only on the remaining outstanding principal amount, not the initial loan principal, saving you massive interest charges over the tenure.
You can reduce your total interest liability by opting for a shorter tenure, making regular part-prepayments, or using balance transfer facilities to switch to a lower interest rate.
Under RBI regulations, individual borrowers with floating interest rate home loans do not attract any prepayment penalties from banks or financial institutions.
Professional Tax (PT) is a tax levied by state governments on income earned by salaried employees and professionals. Article 276 of the Indian Constitution empowers state governments to levy this tax.
Important limit: The maximum Professional Tax that can be collected by any State Government is legally capped at ₹2,500 per annum per individual.
