About EMI Calculator

EMI (Equated Monthly Installment) is the fixed amount paid every month towards repayment of a loan. This calculator helps you estimate your monthly EMI, total interest payable, and total repayment amount.

EMI Formula

EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]

P = Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

Frequently Asked Questions

What is EMI?
EMI is the monthly amount paid to a lender for repaying a loan.

Does increasing loan tenure reduce EMI?
Yes, but the total interest paid over the loan period increases.