EMI Calculator
Calculate your monthly EMI for home loans, car loans, and personal loans
What is EMI Calculator?
An EMI (Equated Monthly Installment) Calculator helps you calculate the monthly payment amount for any loan, including home loans, car loans, and personal loans.
How EMI is Calculated
EMI is calculated using this formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (Annual Rate / 12 / 100)
- N = Loan tenure in months
Benefits of Using EMI Calculator
- Plan your loan repayment effectively
- Compare different loan options
- Understand total interest payable
- Make informed financial decisions