ICICI Loan EMI Calculator

The ICICI Bank Loan EMI Calculator is a comprehensive financial tool designed to help you calculate Equated Monthly Installments (EMI) for various types of loans offered by ICICI Bank. Whether you're planning to buy a home, a car, fund your education, start a business, or need a personal loan, this calculator provides accurate EMI calculations to help you make informed financial decisions.

ICICI Bank is one of India's leading private sector banks, offering a wide range of loan products to meet diverse financial needs. The bank provides competitive interest rates and flexible repayment options for home loans, personal loans, car loans, auto loans, vehicle loans, bike loans, plot loans, land loans, gold loans, education loans, mortgage loans, and business loans.

Our ICICI loan EMI calculator supports multiple loan types, each with specific features and benefits. Home loans and housing loans from ICICI Bank typically offer longer tenures up to 30 years, making homeownership more accessible. Personal loans provide quick access to funds with flexible repayment options. Auto loans, car loans, vehicle loans, and bike loans help you finance your dream vehicle with competitive rates. Plot loans and land loans assist in purchasing land for construction or investment purposes.

Gold loans from ICICI Bank allow you to leverage your gold assets for immediate financial needs, with shorter tenures typically up to 3 years. Education loans support students pursuing higher education in India or abroad, with extended repayment periods. Business loans help entrepreneurs and businesses grow with flexible financing options tailored to business needs.

The calculator uses the standard EMI formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the principal loan amount, R is the monthly interest rate, and N is the loan tenure in months. This formula ensures accurate calculations of your monthly installments, total interest payable, and the complete repayment schedule.

One of the key features of this calculator is its prepayment functionality. You can calculate how making additional payments can reduce your loan tenure or EMI amount. ICICI Bank allows prepayments on most loan types, helping you save on interest costs and become debt-free faster. The calculator shows you exactly how much interest you can save and how many months you can reduce from your loan tenure with prepayments.

The eligibility calculator feature helps you determine how much loan amount you can get based on your monthly salary and existing EMI obligations. ICICI Bank typically considers your debt-to-income ratio, with different limits for different loan types. Home loans and education loans usually allow up to 40% of your monthly income for EMI, while personal loans, auto loans, and business loans may allow up to 50%.

The repayment schedule generated by the calculator shows a month-by-month breakdown of your loan payments, including principal and interest components. This helps you understand how your loan balance decreases over time and how much of each payment goes toward principal versus interest. You can export this schedule to Excel for further analysis or record-keeping.

When using the ICICI loan EMI calculator, it's important to note that actual interest rates may vary based on your credit score, loan amount, tenure, and relationship with the bank. ICICI Bank offers preferential rates to existing customers, salary account holders, and customers with good credit history. The rates displayed in the calculator are indicative and should be verified with the bank before finalizing your loan.

This online calculator is free to use and provides instant results without requiring any registration or personal information. It's designed to be user-friendly and accessible on both desktop and mobile devices, making it convenient to calculate your loan EMI anytime, anywhere. Whether you're comparing different loan options, planning your finances, or checking your eligibility, the ICICI Bank loan EMI calculator is your comprehensive financial planning tool.