EMI Calculator

Calculate your Equated Monthly Installment (EMI) for Home Loan, Car Loan or Personal Loan. Enter loan amount, interest rate and tenure to get instant results.

What is EMI?

EMI (Equated Monthly Installment) 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 so that over a specified number of years, the loan is fully paid off.

How is EMI Calculated?

EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is Principal loan amount, R is monthly interest rate, and N is number of monthly installments.