EMI Calculator
Calculate your loan EMI, total interest, and payment schedule
Loan EMI Calculator
Home Loan, Personal Loan, Car Loan
Monthly EMI
₹0
Principal Amount
₹0
Total Interest
₹0
Total Payable
₹0
Interest Percentage
0%
What is 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 × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- P = Principal loan amount
- r = Monthly interest rate (annual rate / 12 / 100)
- n = Loan tenure in months
Tips for Reducing Your EMI
- Make a larger down payment to reduce the loan amount
- Choose a longer loan tenure (though this increases total interest)
- Negotiate for a lower interest rate
- Consider prepaying part of the loan when you have extra funds