EMI Calculator
Use this EMI calculator to estimate your monthly loan payment. Understand how much of your payment goes towards the principal vs. interest over the lifetime of your loan.
How it works
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where:
- P = principal loan amount
- r = monthly interest rate (annual rate / 12 / 100)
- n = total monthly installments
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment.
How does loan tenure affect my EMI?
A longer loan tenure will decrease your monthly EMI payment, but it will increase the total amount of interest you pay over the life of the loan.