EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, and personal loans. View complete amortization schedule and payment breakdown.
Calculate EMI
Enter loan details to calculate your monthly installment
What is EMI?
EMI stands for Equated Monthly Installment. It's a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs consist of both principal and interest components, ensuring the loan is fully repaid by the end of the tenure.
EMI Calculation Formula
EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]
Where: P = Loan Amount (Principal), r = Monthly Interest Rate, n = Number of Monthly Installments
Types of Loans
- • Home Loan: Long-term loans (15-30 years) for property purchase
- • Car Loan: Medium-term loans (3-7 years) for vehicle financing
- • Personal Loan: Short to medium-term (1-5 years) unsecured loans
- • Education Loan: Student loans with flexible repayment options
Features of Our EMI Calculator
- ✓ Instant EMI calculation with accurate results
- ✓ Complete amortization schedule showing principal vs interest
- ✓ Total interest payable over loan tenure
- ✓ Month-by-month payment breakdown
Tips for Managing EMI
- • Keep EMI below 40% of monthly income
- • Compare rates from multiple lenders
- • Consider making prepayments to reduce interest
- • Shorter tenure = higher EMI but lower total interest