EMI Calculator
About this Calculator
Use our free EMI Calculator to calculate the monthly EMI for home loan, car loan and personal loan instantly.
How EMI Calculator Works
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards repayment of a loan. It includes both principal and interest.
EMI Formula
EMI = [P × R × (1+R)N] / [(1+R)N − 1]
Where P = Loan Amount, R = Monthly Interest Rate, N = Number of Monthly Installments
EMI Calculation Example
If you take a loan of ₹5,00,000 at 8.5% interest for 20 years, your monthly EMI will be approximately ₹4,339.
Frequently Asked Questions
Is this EMI calculator free?
Yes, it is completely free.
Can I calculate EMI for any loan?
Yes, home loan, car loan or personal loan.
Is this calculator accurate?
Yes, it uses the standard EMI formula.