EMI Calculator
Calculate your monthly loan EMI, total interest and total repayment.
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How it works
The EMI Calculator uses the standard reducing-balance formula to compute your Equated Monthly Installment for any loan amount, interest rate and tenure. It also shows total interest paid over the loan and the total amount repaid.
Formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
P = principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = tenure in months.
Frequently asked questions
Is this a reducing balance or flat rate EMI?
This uses the standard reducing balance method used by almost all banks and lenders.
Does it include processing fees?
No, this calculates principal and interest only. Add any fees separately to get your total cost of the loan.