EMI Calculator
Calculate Equated Monthly Installments for home, car, and personal loans.
Formula
EMI = P × r × (1+r)^n / [(1+r)^n − 1]
- P = Loan Principal
- r = Monthly interest rate (annual rate ÷ 12)
- n = Total number of months
How to Use
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the loan tenure in years or months.
- Click Calculate to see your monthly EMI.
FAQ
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. It includes both principal and interest components.
How can I reduce my EMI?
You can reduce EMI by increasing the loan tenure, making a larger down payment, or negotiating a lower interest rate with your lender.