What is an EMI Calculator?

An EMI (Equated Monthly Installment) calculator helps you estimate your monthly loan payments, total interest, and total payment for any loan amount, interest rate, and tenure.

How is EMI calculated?

The EMI is calculated using the 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 = Number of monthly installments

Why use this EMI calculator?

• Plan your loan repayments easily.
• Compare different loan offers.
• Understand your total interest outgo.