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An EMI calculator helps borrowers estimate their Equated Monthly Instalments (EMIs) for various loans, such as home loans, personal loans, and car loans. By entering details like the loan amount, interest rate, and tenure, you can quickly determine your monthly repayment obligation.
Using an EMI calculator ensures better financial planning, allowing you to assess affordability before committing to a loan. Whether you are planning to buy a home, finance a car, or take a personal loan, calculating your EMI in advance helps you make informed borrowing decisions.
Equated Monthly Installments(EMI) :
Equated Monthly Installments(EMI) :
Equated Monthly Installments(EMI) :
Equated Monthly Installments(EMI) :
Equated Monthly Installments(EMI) :
Equated Monthly Installments(EMI) :
Equated Monthly instalment (EMI) is a fixed monthly payment made by a borrower to repay a loan. It consists of both principal and interest components, ensuring systematic repayment over the loan tenure.
With IDFC FIRST Bank EMI calculators, you can easily determine EMIs for various types of loans without errors and save time in planning better finances. Since loan planning requires significant effort and strategy, it is always advisable to use a loan EMI calculator to make informed decisions.
The formula for EMI calculation is:
Suppose you take a home loan of ₹50 lakh at an interest rate of 8% p.a. for 20 years (240 months):
Using the EMI formula, the monthly EMI would be ₹41,822 approximately.
Using the Personal loan EMI calculator is simple and requires only three inputs:
The EMI calculator will display the monthly instalment amount, total interest payable, and overall loan cost.
Calculate your monthly EMI for home loans and determine the affordability of a property purchase.
Estimate your EMI for a personal loan using a personal loan EMI calculator, ensuring you choose the right loan amount and tenure for financial stability.
Determine your monthly repayment for a car loan, making it easier to budget for a new vehicle purchase.
Plan your bike or scooter loan repayment with two wheeler loan calculator, ensuring smooth financing for your vehicle.
Calculate the EMIs for an education loan, allowing you to plan tuition fees and other academic expenses effectively.
Check your home loan eligibility based on income, liabilities, and credit score before applying.
Estimate repayments for business loans and plan business finances and cash flow.
Calculate the EMI for financing a used car, ensuring an affordable repayment plan for pre-owned vehicles
No, the EMI calculator calculates only the principal and interest components. The processing fee varies from one bank to another and is included in the overall loan cost that you receive at the time of loan sanctioning.
The IDFC FIRST Bank EMI calculator is based on a fixed interest rate. For floating-rate loans, the EMI may change periodically based on market conditions.
Making a part-payment or prepayment reduces the outstanding principal, leading to either a lower EMI or a shorter loan tenure, depending on the lender’s policies.
Yes, you can calculate EMIs for multiple loans using the different calculators available, such as home loan, car loan, and personal loan EMI calculators, to compare affordability and repayment schedules.
For floating-rate loans, EMI may increase or decrease based on interest rate fluctuations. Fixed-rate loans remain unaffected by such changes.
IDFC FIRST Bank provides EMI calculators that determine monthly repayment amounts. However, some EMI calculators allow calculations for monthly, quarterly, or yearly repayment frequencies, based on lender terms.
No, the calculator does not account for inflation. It provides EMI estimates based on current loan terms, while inflation impacts real purchasing power over time.