EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home, car, or personal loans.
Financial Tip
A shorter loan tenure increases your EMI but significantly reduces the total interest you pay over the life of the loan.
Loan Summary
Estimated Payoff
Equated Monthly Installment (EMI) calculations are based on fixed interest rates. Actual payments may slightly vary depending on processing fees and lender-specific rules.
EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home, car, or personal loans. EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month, so that over a specified number of years, the loan is paid off in full.
Fixed Monthly Installments
Pay the same amount every month throughout your loan tenure, making budgeting simple and predictable.
Interest & Principal Split
Each payment goes toward both the outstanding principal and the accrued interest for that month.
EMI Calculation Formula
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]Where P is the principal amount, R is the monthly interest rate, and N is the total number of monthly installments.
Loan Scenarios
Home Loan ($200k)
A $200,000 home loan at 7% for 30 years results in an EMI of approximately $1,331.
Car Loan ($30k)
A $30,000 car loan at 5% for 5 years results in an EMI of approximately $566.