Before you apply for any loan in India — construction, personal, business, or renovation — the most important number to know is your EMI (Equated Monthly Instalment). Knowing your EMI helps you decide whether you can comfortably repay without straining your monthly budget.
The EMI Formula
EMI = P × R × (1+R)^N ÷ ((1+R)^N - 1) Where: P = Principal loan amount | R = Monthly interest rate (Annual rate ÷ 12 ÷ 100) | N = Loan tenure in months Example: ₹10 Lakh loan at 8.5% p.a. for 10 years R = 8.5 ÷ 12 ÷ 100 = 0.00708 N = 120 months EMI = 10,00,000 × 0.00708 × (1.00708)^120 ÷ ((1.00708)^120 - 1) = ₹12,399/month
EMI Table — Home Construction Loan at 8.5% p.a.
| Loan Amount | 5 Years | 10 Years | 15 Years | 20 Years |
|---|---|---|---|---|
| ₹5 Lakh | ₹10,241 | ₹6,199 | ₹4,927 | ₹4,340 |
| ₹10 Lakh | ₹20,483 | ₹12,399 | ₹9,853 | ₹8,678 |
| ₹20 Lakh | ₹40,966 | ₹24,797 | ₹19,707 | ₹17,357 |
| ₹30 Lakh | ₹61,448 | ₹37,196 | ₹29,560 | ₹26,035 |
| ₹50 Lakh | ₹1,02,414 | ₹61,993 | ₹49,267 | ₹43,392 |
| ₹1 Crore | ₹2,04,828 | ₹1,23,986 | ₹98,533 | ₹86,783 |
💡 Pro Tip
The EMI table shows why longer tenures make large loans affordable. A ₹50 Lakh loan costs ₹1,02,414/month over 5 years but only ₹43,392/month over 20 years. The trade-off: you pay ₹54.1 Lakh more in total interest over 20 years vs 5 years.
EMI Table — Personal Loan at 14% p.a.
| Loan Amount | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| ₹1 Lakh | ₹8,979 | ₹4,799 | ₹3,417 | ₹2,327 |
| ₹2 Lakh | ₹17,958 | ₹9,597 | ₹6,835 | ₹4,655 |
| ₹3 Lakh | ₹26,937 | ₹14,396 | ₹10,252 | ₹6,982 |
| ₹5 Lakh | ₹44,895 | ₹23,993 | ₹17,087 | ₹11,637 |
3 Things EMI Does Not Tell You
- 1Total interest paid — always calculate (EMI × months) minus principal to understand the true cost
- 2Processing fees and GST — typically 1–3% of loan amount, added upfront
- 3Prepayment charges — if you repay early, most lenders charge 2–5% of outstanding principal
Check Your EMI Instantly on Biddaro
Apply for your loan at biddaro.com/loan-apply. Our EMI calculator shows your exact monthly payment based on your loan amount, type, and preferred tenure — before you commit to anything. Subscription just ₹100/month. Cancel anytime.