EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, and personal loans.
Loan Details
Enter your loan amount, interest rate, and tenure
EMI Calculation Results
Your monthly payment breakdown
Enter loan details and click "Calculate EMI" to see results
How EMI is Calculated
EMI (Equated Monthly Installment) is calculated using the following formula:
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- P = Principal loan amount
- r = Monthly interest rate (Annual rate ÷ 12)
- n = Total number of monthly installments
Key Points:
- • EMI remains constant throughout the loan tenure
- • Initially, interest component is higher
- • Principal component increases over time
- • Outstanding balance reduces with each payment