Why use an EMI Calculator?
Calculate your Equated Monthly Installment (EMI) with precision using our advanced financial tool. Whether you are planning a home loan, car loan, or personal loan, understanding your repayment schedule is the first step towards financial freedom.
Accurate Planning
Know exactly how much you need to set aside each month before applying for a loan.
Save Money
Experiment with tenure and interest rates to find a plan that minimizes your total interest payout.
How is EMI Calculated?
The mathematical formula for calculating EMI is:
E = P x R x (1+R)^N / [(1+R)^N-1]
- P: Principal Loan Amount
- R: Monthly Interest Rate (Annual Rate/12/100)
- N: Loan Tenure in Months
Frequently Asked Questions
Does tenure affect my EMI?
Yes. A longer tenure reduces your monthly EMI but increases the total interest you pay over the life of the loan.
Can I use this for any loan?
Yes, this calculator works for Home Loans, Car Loans, Personal Loans, and Education Loans that follow a standard reducing balance method.