EMI Calculator
Calculate monthly EMI payments for your home, car, or personal loans
Loan Tips
- Consider making a higher down payment to reduce EMI burden
- Compare interest rates from multiple lenders before deciding
- Check for prepayment options and charges
- Factor in additional costs like processing fees and insurance
Frequently Asked Questions
EMI (Equated Monthly Installment) is a fixed amount paid monthly to repay both the principal and interest on a loan over a specified tenure.
EMI is calculated using the formula: EMI = P × r × (1 + r)^n/((1 + r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.
The basic EMI calculation doesn't include additional charges like processing fees, insurance, or taxes. These should be considered separately.