Smart EMI Calculators
Plan Your Loan Today
Accurate financial tools to plan your borrowing — from basic EMI to balance transfers, prepayments & tax savings. 100% free, no login needed.
Basic EMI Calculator
Calculate your monthly EMI using the standard reducing balance method (same formula used by all banks & NBFCs)
Formula: EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ–1]
where P = Principal, r = monthly rate, n = months
Reducing Balance Method — interest is calculated on outstanding principal each month, not the original loan amount.
| Month | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|
Loan Eligibility Calculator
Find out the maximum loan amount you qualify for based on your monthly income and existing obligations
FOIR (Fixed Obligation to Income Ratio) — most banks allow 40–55% of net income toward total EMIs. Higher CIBIL scores may get 60%.
Eligibility = Available EMI ÷ EMI per lakh × 1,00,000
Available EMI = (Income × FOIR%) − Existing EMIs
Prepayment / Foreclosure Calculator
See how much interest you save and how your tenure reduces by making extra payments
Prepayment saves the most in the early years when interest component is highest. Even small extra payments compound significantly over the loan life.
Home Loan EMI + Tax Benefit Calculator
Calculate EMI and your annual tax savings under Section 80C (principal) and Section 24(b) (interest) of the Income Tax Act
Tax Slabs used: Up to ₹10L = 30%, ₹7.5-10L = 20%, ₹5-7.5L = 10%
80C cap: ₹1,50,000 · 24(b) cap: ₹2,00,000 (self-occupied)
Business Loan Calculator
Full cost calculation including processing fee, GST, and insurance — see your true cost of borrowing
Effective APR is higher than the stated rate once processing fees and GST are included. Compare lenders on APR, not just interest rate.
Effective APR includes all upfront costs amortized over loan tenure. Always ask your lender for the all-inclusive APR.
Education Loan Calculator
Calculates EMI with moratorium period (study period + 6 months grace) — interest may accrue during this period
Moratorium = Course duration + 6 months. During this time, only interest (simple) may accrue. Repayment begins after moratorium ends. Under 80E, full interest is tax-deductible for 8 years.
Sec 80E — Full interest paid on education loan is deductible (no cap) for 8 consecutive years. Applies to self, spouse, children, or ward.
Compare Two Loan Offers
Side-by-side comparison of two loan offers — find which truly costs less over the full tenure
| Metric | 🏦 Lender A | 🏦 Lender B | Difference |
|---|
Balance Transfer Calculator
Calculate exact savings if you move your existing loan to a lower-rate lender like Pragati Loan
Transfer makes sense when Net Savings > Transfer Cost. Ideal if remaining tenure > 24 months and rate difference > 1.5%.
