EMI Calculator
Calculate Your Loan EMI Easily
Use our EMI calculator to estimate your monthly loan payments quickly and accurately. Enter the loan amount, interest rate, and tenure to get started.
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your loan repayment, comprising both principal and interest.
How is EMI Calculated?
The EMI is calculated using the formula:
EMI = [P × R × (1+R)N] / [(1+R)N – 1]
- P = Loan Amount (Principal)
- R = Monthly Interest Rate (Annual rate divided by 12 × 100)
- N = Loan Tenure (number of months)
Why Use Our EMI Calculator?
- Plan your finances effectively by understanding monthly commitments.
- Compare different interest rates and tenures to choose what suits you best.
- Make informed decisions before applying for loans.