EMI stands for Equated Monthly Installment. It is the fixed amount you pay to a bank or lender every month until the loan is fully paid off, consisting of both principal and interest components.

How is the EMI calculated?

EMI is calculated using the formula: EMI = [P x R x (1+R)^N]/[((1+R)^N)-1], where P is Principal loan amount, R is monthly interest rate (Annual Rate / 12 / 100), and N is loan tenure in number of months.

How does loan tenure affect the EMI?

A longer tenure reduces your monthly EMI payments but increases the overall interest paid over the life of the loan. A shorter tenure increases the monthly EMI but saves you money on interest.

EMI Calculator

Calculate Equated Monthly Installment (EMI) for Home Loan, Car Loan or Personal Loan in India. View detailed interest splits and monthly amortization schedules.

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