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Calculate EMI on loans — home loan, car loan, personal loan.
We'll instantly compare both tax regimes and show which saves you more.
Indicative result — final figures may differ based on specific facts.
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Indicative results — final figures may differ based on specific facts and recent amendments. Contact us for a tailored review.
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Step by step
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Detailed methodology
The exact formula, statutory references and edge-cases used to compute your result. Click any card to see the relevant sub-section of the Income Tax Act, 1961.
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly interest rate (annual / 12 / 100), n = total months. Interest component in each EMI is the outstanding principal × r; balance reduces principal.
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Want the math? See Detailed methodology further down this page.
What we assume
Reducing-balance method with monthly compounding.
Floating rate resets, prepayment impact, and first-EMI rules.
Heads up. For situations involving international income, business income, or capital gains, always cross-check with a qualified Chartered Accountant before acting on these numbers.
Total payment over tenure = EMI × months. Total interest = total payment − principal. For a ₹50L loan at 8.5% for 20 years: total interest ≈ ₹55L — almost equal to the principal borrowed.
Lump-sum prepayment reduces principal, lowering future interest. Two options: (a) keep EMI same, reduce tenure — better total interest; (b) keep tenure same, reduce EMI — better cash flow. Most lenders charge no prepayment penalty for floating-rate home loans.
Floating rates reset quarterly / annually based on the lender's benchmark (repo-linked, MCLR). EMI changes after each reset. Fixed-rate loans keep EMI constant for an initial period, then convert to floating.
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