₹
₹1L₹10 Cr
%
5%20%
Yr
1 Yr30 Yr
What is EMI?
Equated Monthly Installment (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.
Payment Breakdown
Principal Amount
Infinity%Total Interest
NaN%EMI Calculator Guide
Plan your loans with confidence.
What is an EMI Calculator?
An EMI (Equated Monthly Installment) calculator is a tool used to calculate the monthly amount you need to pay to the lender (bank or financial institution) until the loan is fully paid off. It's an essential tool for anyone planning to take a home loan, personal loan, or car loan.
How is EMI calculated?
The mathematical formula for calculating EMI is:
E = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)
- E: EMI amount
- P: Principal loan amount
- r: Monthly interest rate
- n: Loan tenure in months
How to use the EMI Calculator?
1
Loan AmountSelect the total amount you wish to borrow.
2
Interest RateThe annual interest rate charged by the bank.
3
Loan TenureThe duration for which you wish to take the loan.
Benefits of using an EMI Calculator
- Provides immediate results
- Helps in financial planning
- Allows comparison of different loan offers
- Displays the total interest payable over the tenure