🏦EMI Calculator

Calculate Equated Monthly Installments for loans.

Principal Amount ($)

Annual Interest Rate (%)

Tenure (months)

About EMI Calculator

Calculate your Equated Monthly Installment (EMI) for any loan with this EMI Calculator. Enter the principal amount, annual interest rate, and loan tenure to instantly see your fixed monthly payment and the total interest payable over the loan term. Widely used for home loans, car loans, and personal loans in India and globally.

How to Use EMI Calculator

1
Enter loan amount
Input the total principal amount you wish to borrow.
2
Set interest rate and tenure
Enter the annual interest rate and the loan repayment period in months or years.
3
Review your EMI
See your fixed monthly installment, total interest payable, and total repayment amount.

Common Use Cases

Planning a home loan in India or other markets
Calculating monthly payments on a personal loan
Comparing EMIs across different loan tenures
Budgeting monthly expenses around a fixed loan commitment

Frequently Asked Questions

What is an EMI?

An Equated Monthly Installment (EMI) is a fixed payment made by a borrower to a lender on a specified date each month. It includes both the principal repayment and the interest component.

What is the EMI formula?

EMI = [P × r × (1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the number of monthly installments.

Can I reduce my EMI?

Yes. You can reduce your EMI by making a larger down payment (reducing principal), choosing a longer tenure, or negotiating a lower interest rate with your lender.