EMI Calculator
Calculate Equated Monthly Installment (EMI) for home loans, car loans, and personal loans
Loan Details
Rs.
Rs.1LRs.5Cr
%
5%20%
years
1 year30 years
Results
Enter your loan details and click Calculate EMI to see your results
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the lender every month until the loan is fully repaid. Your EMI comprises both the principal amount and the interest charged on the loan.
How is EMI Calculated?
The EMI calculation uses the following formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]Where: P = Principal loan amount, R = Monthly interest rate, N = Number of monthly installments
Key Points
- Fixed Payment: Your EMI remains constant throughout the loan tenure
- Interest Component: Higher in the initial months and gradually decreases
- Principal Component: Lower initially but increases over time
- Loan Tenure: Longer tenure means lower EMI but higher total interest