EMI Calculator

An EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Our EMI Calculator helps you quickly calculate your monthly EMI along with total interest payable and total repayment amount based on your loan amount, interest rate, and tenure.

What Does the EMI Calculator Show?

How to Use the EMI Calculator?

  1. Enter the loan amount (e.g., ₹5,00,000)
  2. Enter the interest rate (e.g., 9.5%)
  3. Select the loan tenure (e.g., 5 years)
  4. Click the "Calculate" button

You’ll get the EMI along with the interest and total payment instantly.

Benefits of This EMI Calculator

Types of Loans You Can Calculate

Why Should You Use an EMI Calculator?

Before taking a loan, it's crucial to know how much EMI you will pay each month. This helps in budgeting, loan comparison, and deciding the right loan amount and tenure for your financial needs.

Frequently Asked Questions (FAQs)

What is EMI?

EMI stands for Equated Monthly Installment. It's a fixed amount paid by a borrower to a lender every month until the loan is fully repaid.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = principal amount, R = monthly interest rate, and N = loan tenure in months.

Can I use this calculator for any type of loan?

Yes. This calculator works for all loan types, including home, personal, car, education, and gold loans.

Does the EMI amount change over time?

In fixed-rate loans, EMI remains the same throughout. In floating-rate loans, EMI may change depending on interest rate revisions.