EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans. Get a detailed breakdown of principal and interest components.
Results
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
How to Use EMI Calculator
- 1
Enter the loan amount you wish to borrow
- 2
Input the annual interest rate offered by your lender
- 3
Specify the loan tenure in months
- 4
Click Calculate to see your monthly EMI and total payment breakdown
EMI Calculator Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = Principal, R = Monthly Interest Rate, N = Number of MonthsExample Calculation
Input Values
Loan Amount
₹10,00,000
Interest Rate (Annual)
8.5 %
Loan Tenure
240 months
Results
Monthly EMI
₹8,678
Total Interest
₹10,82,720
Total Payment
₹20,82,720
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the principal loan amount, R is the monthly interest rate, and N is the number of monthly installments.
Does EMI include insurance?
EMI typically includes only the principal and interest components. Insurance premiums, if any, are usually charged separately.