🏦 Updated March 2026 — RBI Formula | Latest Bank Rates
EMI Calculator India
Home loan, car loan, personal loan EMI with prepayment savings & amortization table. RBI-standard reducing balance formula.
🏠 ₹20L @ 8.35% = ₹17,187/mo
🚗 ₹8L car loan @ 9% = ₹16,607/mo
💳 Prepayment simulation
🏦 Bank-wise EMI Comparison — ₹20L for 20 Years
| Bank | Rate | Monthly EMI | Total Interest | Total Payment |
|---|
Rates as of March 2026. Actual rates depend on CIBIL score (750+ gets best rate) and loan amount.
EMI Calculator — सब कुछ हिंदी में समझें
EMI (Equated Monthly Instalment) यानी हर महीने बैंक को देने वाली किस्त। इसमें मूलधन (Principal) और ब्याज (Interest) दोनों शामिल होते हैं।
Home Loan EMI Examples — Indian Scenarios
| Loan | Amount | Rate | Tenure | EMI |
|---|
| Home Loan (SBI) | ₹20 Lakh | 8.35% | 20 yrs | ₹17,187 |
| Home Loan (HDFC) | ₹50 Lakh | 8.50% | 30 yrs | ₹38,446 |
| Car Loan (Maruti) | ₹8 Lakh | 9.00% | 5 yrs | ₹16,607 |
| Personal Loan | ₹5 Lakh | 14.00% | 3 yrs | ₹17,099 |
How to Reduce Your EMI / Interest Burden
1. Annual Prepayments: Even ₹50,000/year extra on a ₹30L home loan saves ₹6–8 lakh in interest and closes loan 4–5 years early. Use the prepayment simulation above to see your exact savings.
2. Switch to lower rate: Refinancing from 9% to 8.35% on ₹50L loan saves ~₹3.5L over 20 years.
3. Step-up EMI: Start with lower EMI, increase by 5–10% yearly as salary grows. Banks like SBI offer this under "Flexipay" scheme.
₹20 लाख home loan की EMI कितनी होगी?▼
₹20 लाख home loan (SBI 8.35%) 20 साल के लिए: EMI = ₹17,187/महीना। कुल ब्याज = ₹21.25 लाख। कुल भुगतान = ₹41.25 लाख। हर साल ₹50,000 prepay करने से ₹4-5 लाख बचत होती है।
Which bank has lowest home loan EMI in India 2026?▼
Lowest home loan rates March 2026: SBI 8.35% → ₹17,187/mo for ₹20L/20yr. Bank of Baroda 8.40%. HDFC 8.50%. ICICI 8.65%. For CIBIL score above 750 you get the best rate. Even 0.25% difference saves ₹80,000+ on a ₹30L loan.
Is it better to prepay home loan or invest in SIP?▼
Home loan at 8.35%: Prepaying saves 8.35% guaranteed. SIP at 12% returns: earns 12% but with market risk. For most people: prepay if loan rate > 9%, invest in SIP if loan rate < 9%. Current SBI rate of 8.35% means SIP is slightly better — but prepayment is risk-free guaranteed return.