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What is an EMI Calculator?
An EMI Calculator helps estimate the fixed monthly payment required to repay a loan over a selected period. The calculation is based on the loan principal, interest rate and repayment tenure.
How to Use the EMI Calculator
Enter the loan amount, annual interest rate and repayment tenure. The calculator will instantly show your estimated monthly EMI, total interest and total repayment amount.
How is EMI Calculated?
The standard EMI formula is:
EMI = P × R × (1 + R)ⁿ ÷ [(1 + R)ⁿ − 1]
Where P is the loan amount, R is the monthly interest rate and N is the number of monthly instalments.
EMI Calculator for Different Loans
This calculator can be used to estimate repayments for home loans, personal loans, car loans, education loans and other fixed-interest loans.
Things to Consider Before Taking a Loan
Actual EMI amounts may vary depending on processing fees, floating interest rates, insurance, taxes, prepayments and lender-specific terms.
Disclaimer: This EMI Calculator provides estimates for informational purposes only. Actual EMI, interest rates, fees and repayment amounts may vary by lender and loan terms. Please verify details with your bank or financial institution before making any financial decision.
EMI Calculator: Calculate Loan EMI Online
Calculate your monthly loan EMI instantly. Enter the loan amount, annual interest rate and loan tenure to estimate your monthly EMI, total interest payable and total repayment amount.