EMI Calculator
Calculate your Equated Monthly Installment for home loans, car loans, personal loans with detailed amortization schedule.
Loan Details
₹
₹1L₹1Cr
% p.a.
1%30%
Years
1 Yr30 Yrs
Enter loan details and click Calculate EMI
Understanding EMI
Everything you need to know about Equated Monthly Installments
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.
How is EMI Calculated?
The EMI calculation formula is:
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where P = Principal loan amount, R = Monthly interest rate, N = Number of monthly installments
Disclaimer: This EMI calculation is indicative and for informational purposes only. Actual EMI may vary based on the lender's terms, processing fees, and applicable taxes. Please consult CA Mahesh Joshi for personalised financial advice.