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.
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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.