EMI Calculator
Calculate your monthly loan installments instantly for home loans, car loans, personal loans, and more.
How to Use EMI Calculator
Step 1: Enter the loan amount (principal) you want to borrow
Step 2: Input the annual interest rate offered by your lender
Step 3: Select the loan tenure (number of years)
Step 4: Click "Calculate EMI" to see your monthly installment, total interest, and total repayment amount
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It includes both the principal amount and interest charged by the lender. The EMI amount remains constant throughout the loan tenure, making it easier to plan your monthly budget.
EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where P = Principal loan amount, R = Monthly interest rate, N = Tenure in months