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EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, personal loans, and more.
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Loan Details
Loan Amount
$
Interest Rate (%)
%
Loan Tenure
About EMI
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
EMI Formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
- P = Principal loan amount
- R = Monthly interest rate
- N = Loan tenure in months