EMI Calculator

Fill up below details and calculate your EMI.

Questions and Answers on EMI Calculator

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
Please follow the given below steps to calculate your EMI through myITreturn portal:
  1. Please visit EMI Calculator Page and login/signup or If you are already logged in, from the home page, select the 'EMI Calculator' service.
  2. Fill all the details as required for EMI calculation.
  3. Click on "Calculate".
Here you can see the details of your EMI Calculation.
By using an online EMI calculator, you can easily calculate your EMI (Equal Monthly Installment).
Let's look at the different benefits of the EMI calculator :
  1. Convenience
  2. Accuracy
  3. Fast calculation
With the help of various online EMI calculators, you can easily calculate your loan EMI.
Let us look at various types of online emi calculator available online in detail : -
  1. Home Loan EMI calculator
  2. Car Loan EMI calculator
  3. Personal Loan EMI calculator
  4. Education Loan EMI calculator
  5. Loan against property EMI calculator
  1. Personal loan
  2. Home loan
  3. Education loan
  4. Car loan
  5. Credit card loan
  6. Two-wheeler loan
  7. Business loan
  8. Gold loan
  9. Loan against FD
  10. Loan against insurance
  11. Loan against mutual funds etc.
An amortization schedule is a complete table of periodic loan payments, in which the amount of principal and amount of interest are shown, in which each payment is included unless the loan is paid at the end of its tenure.
Part payments on EMI reduce the outstanding loan amount, which helps in reducing the interest amount due. Without changing the EMI post part payment, the contribution of EMI towards principal repayment increases. Therefore the loan gets repaid faster.
The maximum deduction that can be availed u/s 80C in a financial year is Rs. 1,50,000 for the principal amount paid on the home loan. As well as the tax benefit on home loan for payment of Interest amount is allowed as a deduction U/s 24. The maximum tax deduction allowed u/s 24 of a self-occupied property is subject to a maximum limit of Rs. 2 Lacs.
You can use u/s 80EE to avail more rebate, if you took a loan between 1st April 2016- 31st March 2017 for your first house.Under this section, you can claim deduction of up to Rs.50,000.
  1. Keep track of EMI deadlines to boost your credit score
  2. Maintain old credit cards to strengthen credit history
  3. Keep an eye on your credit utilisation ratio
  4. Increase your credit limit by taking loans
Note: If your EMI will bounce then your CIBIL score will be reduce as per the CIBIL rule.
Floating interest rates, the EMIs would fluctuate as per the market dynamics as interest rate increases or decreases. On the other hand for Fixed interest rate of interest on a loan would mean that the equated monthly installments or EMIs would remain constant over the tenure of the loan.