Calculator
Bank loan interest rate calculator
EMI maths with a typical bank-loan default rate.
≈ ₹10.00 L
- Monthly EMI
- ₹21,494
- Total interest
- ₹2,89,634
- Total payment
- ₹12,89,634
- Principal ₹10,00,000(78%)
- Interest ₹2,89,634(22%)
Year-by-year schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹1,60,505 | ₹97,421 | ₹8,39,495 |
| 2 | ₹1,78,194 | ₹79,733 | ₹6,61,301 |
| 3 | ₹1,97,831 | ₹60,096 | ₹4,63,470 |
| 4 | ₹2,19,633 | ₹38,294 | ₹2,43,837 |
| 5 | ₹2,43,837 | ₹14,090 | ₹0 |
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Maths: Reducing-balance EMI. Rate is an editable starting point — verify against the lender's current rate card. Verify rates against the lender's or fund's current card before acting.
Questions about this calculator
- How does the Bank loan interest rate calculator work?
- Reducing-balance EMI. Rate is an editable starting point — verify against the lender's current rate card. The result is an estimate in Indian rupees, not a quote from any lender, bank or fund.
- Are the default rates current?
- No. Defaults are illustrative starting points. Verify the current rate against the lender's or fund's latest rate card before making a decision.
- Is the Bank loan interest rate calculator free to use?
- Yes. It runs in your browser, with no login and no inputs sent to a server.