7 Best EMI Calculators Online for 2026
We tested every major EMI calculator for formula accuracy, amortization schedules, and prepayment modelling. Here's which ones loan borrowers should actually trust.
Whether you're taking a home loan, car loan, or personal loan — the first thing you do is check the EMI. A ₹50 lakh home loan at 8.5% for 20 years means paying ₹43,391 every month and ₹54.14 lakh in total interest. That's more interest than the principal itself.
But here's what most EMI calculators don't show you: how much of each EMI goes toward principal vs interest, how prepayment changes your total cost, or what the full amortization schedule looks like. We tested 7 popular EMI calculators to find which ones go beyond the basics.
Quick Verdict
- Best overall: ITR Stats — real-time results, amortization schedule, principal vs interest charts, interest-to-principal ratio
- Best for prepayment: BankBazaar — model prepayment scenarios with interest savings
- Best bank-specific: HDFC/ICICI — exact rates and eligibility for their loan products
- Best for loan comparison: Bajaj Finserv — compare EMIs across loan types
What We Tested
For each calculator, we checked:
- Formula accuracy — uses reducing balance method: EMI = P × r × (1+r)^n / [(1+r)^n - 1]
- Amortization schedule — month-by-month or year-by-year principal vs interest breakdown
- Prepayment modelling — can you add lump-sum prepayments and see interest savings?
- Charts — visual split of principal vs interest, payment timeline
- Loan type presets — home, car, personal, education with typical rate ranges
- Tax benefit info — mentions Section 80C (principal) and 24(b) (interest) for home loans
- Real-time calculation — updates as you type
The 7 Best EMI Calculators
A comprehensive EMI calculator that shows monthly EMI, total interest, total payment, and interest-to-principal ratio — all updating in real-time. Features an interactive doughnut chart (principal vs interest split), stacked bar chart (year-by-year payment breakdown), and a toggleable amortization schedule showing exact principal and interest components for each year.
Strengths
- Real-time results — no button
- Full amortization schedule
- Interactive doughnut + bar charts
- Interest as % of principal shown
- Year-by-year principal vs interest split
- Correct reducing balance formula
- Dark mode, no ads, no login
Limitations
- No prepayment modelling
- No loan type presets
- No processing fee calculation
BankBazaar's EMI calculator is the most popular in India for loan calculations. It supports multiple loan types (home, car, personal, education), shows a detailed amortization schedule, and uniquely offers prepayment modelling — add a lump-sum payment and see how much interest you save. Also shows live loan rates from multiple banks.
Strengths
- Prepayment modelling with interest savings
- Multiple loan type tabs
- Amortization schedule included
- Live bank loan rates
- Very high brand recognition
Limitations
- Extremely ad-heavy page
- No real-time calculation (button click)
- Lead generation forms pop up frequently
- Slow page load
HDFC Bank's EMI calculator uses their current lending rates automatically. It shows EMI, total interest, and total payment for HDFC-specific loan products. Useful for existing HDFC customers or those applying for an HDFC loan, as it reflects the exact rate you'll get.
Strengths
- Uses exact HDFC lending rates
- Separate home, car, personal loan tools
- Shows processing fee estimates
- Links to loan application
Limitations
- HDFC rates only — no comparison
- No amortization schedule
- No prepayment modelling
- Heavy website, slow to navigate
Groww's EMI calculator follows their standard clean design. Slider-based inputs for amount, rate, and tenure with a pie chart showing principal vs interest split. The surrounding content explains reducing balance vs flat rate and includes tips on choosing loan tenure.
Strengths
- Clean, ad-light interface
- Pie chart for visual split
- Reducing vs flat rate explained
- Accurate formula
Limitations
- No amortization schedule
- No prepayment modelling
- Slider-only input
- No year-by-year breakdown
ICICI Bank offers separate EMI calculators for home loan, car loan, and personal loan — each pre-loaded with ICICI's current rates. Shows year-by-year amortization table with reducing principal balance. Ties directly into ICICI's loan application process.
Strengths
- Separate calculators by loan type
- Amortization table included
- Current ICICI rates pre-loaded
Limitations
- ICICI rates only
- No prepayment option
- No charts or visual breakdown
- Cluttered banking website
Bajaj Finserv's calculator covers a wide range of loan products — home, personal, business, two-wheeler, and more. Each loan type has typical rate ranges pre-filled. Shows EMI, total interest, and total payment with a visual chart. Ties into their loan application and pre-approved offer checking.
Strengths
- Wide range of loan types
- Pre-approved offer checking
- Visual payment chart
- Typical rate ranges pre-filled
Limitations
- No amortization schedule
- Lead generation focused
- No prepayment modelling
- Heavy marketing content
ClearTax's EMI calculator is straightforward — enter amount, rate, tenure, get EMI. The real value is their detailed content on home loan tax benefits under Section 80C and 24(b), which helps borrowers understand the tax implications alongside the EMI calculation.
Strengths
- Home loan tax benefit guide
- Section 80C and 24(b) explained
- Trusted tax platform
Limitations
- Basic calculator features
- No amortization schedule
- No prepayment or charts
- Ad-heavy page
Quick Comparison Table
| Feature | ITR Stats | BankBazaar | HDFC | Groww | ICICI |
|---|---|---|---|---|---|
| Correct Formula | Yes | Yes | Yes | Yes | Yes |
| Amortization Schedule | Yes | Yes | No | No | Yes |
| Prepayment Modelling | No | Yes | No | No | No |
| Real-Time (No Button) | Yes | No | No | Slider | No |
| Charts | Both | Pie | No | Pie | No |
| Interest % Display | Yes | No | No | No | No |
| Loan Type Presets | No | Yes | Yes | No | Yes |
| Tax Benefit Info | No | Basic | No | No | No |
| Dark Mode | Yes | No | No | No | No |
| No Login Needed | Yes | Yes | Yes | Yes | Yes |
Our Recommendation
For the clearest view of your loan structure — real-time EMI with amortization schedule, interactive charts, and interest-to-principal ratio — ITR Stats is the best choice. No ads, no login, and you can see exactly how much principal vs interest you pay each year.
If you're planning a prepayment strategy — BankBazaar is the only mainstream calculator that lets you model lump-sum prepayments and see the interest savings. Worth the ads.
If you want the exact EMI for your bank's rates — use HDFC or ICICI's own calculators, then verify the amortization schedule on ITR Stats.
Try Our EMI Calculator
Amortization schedule, principal vs interest charts, real-time results. No login. No ads.
Open EMI Calculator SIP Calculator