EMI Calculator
Calculate your monthly loan installment for home, car, or personal loans instantly.
Monthly EMI
Principal Amount
Total Interest
Total Payment
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender on a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified period, the loan is fully paid off.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
n = Loan tenure in months
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
n = Loan tenure in months
How to use this EMI Calculator
Enter your loan amount, the annual interest rate offered by your bank, and the loan tenure in months. Click Calculate to instantly see your monthly EMI, total interest payable, and total amount you will pay back.