🏦 EMI Calculator
Calculate the Equated Monthly Installment (EMI) for any loan. Enter loan amount, interest rate, and tenure to see your monthly payment, total interest, and total payable.
Advertisement
Advertisement
How to Use
- 1Enter your loan amount (principal).
- 2Enter the annual interest rate (%) and tenure (in months or years).
- 3View your monthly EMI, total interest, and total payment.
Frequently Asked Questions
What is EMI?
EMI is a fixed monthly amount that covers both interest and principal repayment for a loan.
How is EMI calculated?
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where r is monthly interest and n is months.
Does prepayment reduce EMI?
Yes — most lenders let you reduce either the EMI or the tenure when you prepay.