EMI Calculators

Making informed financial decisions is key to achieving your goals. Whether you are planning a dream vacation, renovating your home, or consolidating debt, understanding your monthly loan payments is crucial. An EMI Calculator helps you estimate your monthly installments easily. Once you enter the necessary details such as the loan amount, loan term, and interest rate, the bank’s EMI calculator will instantly display your estimated Equated Monthly Installment (EMI).

Personal Loan EMI Calculators

50K 40L
10.65% 22%
1 7

Home Loan EMI Calculator

3L 5Cr
6.9% 11%
1 30

Car Loan EMI Calculator

1L 1Cr
7% 17.5%
1 7


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What is EMI?

EMI refers to the fixed amount you pay monthly towards your loan i.e. Principal amount as well as interest. By entering the desired loan amount, loan term, and applicable interest rate (available on our website or by contacting us directly), the calculator generates an accurate estimate of your EMI. This empowers you to:

  • Budget effectively: Assess how comfortably the estimated EMI fits into your overall financial plan and existing commitments.
  • Compare loan options: Explore different scenarios by adjusting loan amounts and terms to find the combination that best suits your budget and repayment preferences.
  • Make informed decisions:  Gain valuable insights into your potential loan obligations before proceeding, allowing you to make confident and informed financial choices.

Planning a significant financial undertaking — like a loan requires careful budgeting and understanding your monthly obligations. This is where Axis Bank's online EMI calculator becomes a valuable tool for you.

While the calculator provides accurate estimates based on the information you input, it's important to remember that actual interest rates and terms may vary depending on your specific circumstances.

Formula to calculate EMI

While the EMI calculator simplifies monthly loan estimates, knowing the underlying formula offers valuable insight. Here's the simplified formula:

EMI = [P x R x (1 + R)^N] / [(1 + R)^N - 1]


P = Principal loan amount

R = Monthly interest rate (annual rate divided by 12)

N = Loan tenure in months

Remember, this formula serves as a foundational understanding. Always use a reliable EMI calculator.

How to use the EMI Calculator?

Financial clarity empowers optimal decision-making. This is where the EMI calculator becomes a valuable tool for you. Tools such as EMI Calculator Excel and Business Loan EMI Calculator, offered by reputable institutions like Axis Bank, simplify the process of estimating your monthly loan repayments. These calculators provide a user-friendly interface to analyse various repayment scenarios, allowing you to make informed decisions about your financial commitments.

Using the EMI Calculator

  • Identify your loan type:  Select the appropriate calculator based on your desired loan (personal, car, bike, home or business).
  • Enter the loan amount: Specify the total sum you intend to borrow.
  • Outline the loan term: Indicate the desired duration of your repayment period (typically in months or years).
  • Provide the interest rate: This crucial factor determines the cost of your loan. You can find this information on the chosen institution's website or by contacting them directly.

Instantly, the calculator reveals your estimated EMI.

Advantages of using an EMI Calculator

  • Informed budgeting:  Gain clear insight into how comfortably the estimated EMI aligns with your existing financial commitments.
  • Comparative analysis:  Explore various loan scenarios by adjusting loan amounts, terms, and interest rates to identify the option that best suits your needs.
  • Confident decision-making: Acquire a valuable preliminary understanding of potential loan obligations, enabling you to proceed with informed financial choices.

Types of EMI Calculator

Various bank EMI calculators are available to assist you in understanding your monthly loan repayments. Let us explore some popular options:

  • Home Loan EMI Calculator: Designed for estimating monthly payments for purchasing or renovating your home, the EMI Calculator Home Loan takes into account factors like loan amount, term, interest rate, and processing fees, providing a comprehensive view of your potential loan installments.
  • Personal Loan EMI Calculator: Ideal for gauging monthly payments for unsecured loans used for various purposes, such as travel, medical expenses, or debt consolidation. Personal Loan EMI Calculator focuses on loan amount, term, and interest rate, helping you plan for your financial needs.
  • Car Loan EMI Calculator: This tool helps estimate monthly payments for car purchases, considering factors like down payment options, loan terms, interest rates, and insurance costs. EMI Calculator for Car provides clarity on the financial aspects of owning a car.
  • Education Loan EMI Calculator: Specific to estimating repayments for educational loans, this calculator considers factors like loan amount, interest rate, moratorium period (if applicable), and repayment term. It aids in planning for educational expenses without compromising on financial stability.
  • Loan against Property EMI Calculator: This calculator helps estimate monthly payments for loans secured by your property. It considers factors such as loan amount, property value, interest rate, and loan term, providing insights into managing repayments for property-backed loans. With its user-friendly interface, it simplifies the financial planning process, allowing you to make informed decisions about leveraging your property for a loan while ensuring a comfortable repayment journey.

Factors that can impact your due amount

Three crucial factors directly influence the decision to take out a loan:

  • Rate of interest (ROI): This is the cost of borrowing the money, expressed as a percentage of the loan amount. It's like a rent paid to the lender for using their funds. Naturally, a higher ROI leads to a higher EMI and overall due amount.
  • Loan amount: This refers to the total sum you borrow. It's logical that a larger loan amount directly translates to a higher EMI and due amount. Consider it like purchasing a more expensive car; the monthly installments will be higher compared to a less expensive model.
  • Term of the loan: This is the duration in which you have to repay the loan. Using an Axis Bank EMI calculator, for example, allows you to conveniently assess different loan terms, enabling you to make informed decisions. Spreading the repayment over a longer period results in lower EMIs but ultimately extends the interest accrual period, potentially increasing the total due amount.


  • How is EMI calculated?
  • Your EMI is determined by a formula considering three factors: the loan amount, the interest rate, and the loan term. Essentially, it calculates the fixed amount you will pay monthly to cover the loan principal and interest over the chosen duration.

  • When will my EMI be due, and how is it to be paid?
  • Your EMI due date is mentioned in your loan agreement and can usually be found on your monthly statements. Most lenders offer convenient payment options like online banking, mobile banking, Debit/Credit Card payments, or direct debit mandates. Remember, timely payments are crucial for maintaining a good credit score.

  • What happens in the case where the interest rate reduces or increases during the tenure of your loan?
  • This depends on your loan agreement. For a decrease in interest, your EMI typically stays the same, allowing you to pay off the loan faster. However, an increase might lead to a higher EMI or an extended loan term to maintain your original payment. Consult your lender for specific details.

  • What happens when you partially prepay the loan?
  • Partial prepayment offers multiple advantages. You can choose to reduce your EMI, shorten the loan term (saving on interest), or both. It demonstrates responsible financial management and can improve your credit score. Additionally, it reduces your overall debt burden and potentially frees up cash flow. However, check for any prepayment charges in your loan agreement.

  • What happens if you skip your EMI?
  • Missing an EMI can have serious consequences, so it's crucial to avoid it if possible. Potential consequences include late payment fees, credit score damage, and legal action.  

  • Are the calculators for home, car and personal loans the same?
  • While the core principle of EMI calculation remains the same for different loan types (home, car, personal), dedicated calculators offer distinct advantages such as tailored considerations, updated interest rates and informed decision-making.