Loan EMI Calculator
Use this free calculator to work out your Equated Monthly Installment (EMI) for any loan — home, car, or personal. Just enter the loan amount, annual interest rate, and tenure in months.
How it works
EMI is calculated using the formula EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the principal loan amount, r is the monthly interest rate (annual rate / 12 / 100), and n is the number of monthly installments.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Installment — a fixed payment amount made by a borrower to a lender at a specified date each month.
Does a lower interest rate always reduce EMI?
Yes, for the same loan amount and tenure, a lower interest rate reduces the EMI amount.