Loan EMI Calculator

The EMI (Equated Monthly Installment) Calculator helps you estimate a fixed monthly repayment for a loan. It combines principal and interest over your chosen tenure, making it easier to compare lenders and plan your budget. This tool is useful for home, car, or personal loans in India, UAE, and globally.

Formula

EMI = (P × r × (1 + r)ⁿ) ÷ ((1 + r)ⁿ − 1)

P — Loan principal
r — Monthly interest rate (annual ÷ 12)
n — Number of monthly installments

Example Calculation

Loan = ₹10,00,000 · Rate = 10% p.a. · Tenure = 60 months

Result: EMI ≈ ₹21,247 per month

Practical Uses

Compare car loan EMIs
Plan mortgage repayments
Understand interest vs principal breakdown

FAQs

What is EMI?

A fixed monthly payment covering both principal and interest.

How to reduce EMI?

Prepay part of the loan, negotiate lower rates, or extend tenure.

Does EMI change?

Fixed-rate loans stay constant, floating rates may vary.

Disclaimer

This calculator is for educational purposes only. Verify loan terms with your bank.