Resources · Calculators
EMI Calculator
Calculate your monthly loan EMI, total interest and total payment instantly.
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years
Monthly EMI
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- Enter loan amount, rate and tenure
How to use
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the loan tenure in years.
- See your monthly EMI, total interest and total payment.
Frequently asked questions
What is an EMI?+
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan, covering both principal and interest.
How is EMI calculated?+
EMI = [P × r × (1+r)^n] ÷ [(1+r)^n − 1], where P is the principal, r is the monthly interest rate and n is the number of months.
Does a longer tenure reduce EMI?+
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the loan.