EMI Calculator for Loans
Calculate your Equated Monthly Instalment (EMI) for home loans, car loans, or personal loans with ease.
EMI Calculator
Calculate your Equated Monthly Instalment for loans.
Understanding Your EMI
An Equated Monthly Instalment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs 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.
How to Use the Calculator
Simply enter the total loan amount you wish to borrow, the annual interest rate offered by the lender, and the loan tenure in years. The tool will instantly calculate your monthly EMI, the total interest you'll pay, and the total amount repayable.
The EMI Formula
The EMI is calculated using the formula:
Where: P is the principal loan amount, R is the monthly interest rate (annual rate / 12 / 100), and n is the number of monthly installments (loan tenure in years x 12).