EMI Calculator
Calculate your monthly EMI for home, car, or personal loans.
Loan Amount (₹)
₹
Interest Rate (% p.a.)
%
Loan Tenure (Years)
Yr
Monthly EMI
₹ 43,391
Total Interest
₹ 54,13,879
Total Payment
₹ 1,04,13,879
How is EMI Calculated?
EMI (Equated Monthly Installment) is calculated using the formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]
Where:
P = Principal loan amount
R = Monthly interest rate (Annual Rate / 12 / 100)
N = Loan tenure in months
FAQs
What happens if interest rates change?
If you have a floating rate loan, your bank may either increase your EMI amount or extend your loan tenure when interest rates rise.