EMI Calculator
Calculate Equated Monthly Installment (EMI) for loans with interest and payment breakdown.
Our free EMI Calculator helps you calculate your monthly loan payments, total interest costs, and amortization schedule. EMI (Equated Monthly Installment) helps you plan loan repayment by breaking total payments into equal parts. Perfect for personal loans, car loans, home loans, and any other fixed-rate installment loans.
Enter loan details to see your EMI breakdown
EMI (Equated Monthly Installment) helps you plan loan repayment by breaking total payments into equal parts. This calculator helps you understand your monthly payments, total interest costs, and payment schedule for fixed-rate loans.
Formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- EMI = Equated Monthly Installment
- P = Principal loan amount
- r = Monthly interest rate (annual rate ÷ 12)
- n = Total number of monthly payments
Note: This calculator provides estimates for fixed-rate loans. Actual loan terms may vary based on credit score, lender requirements, and other factors. Always consult with a financial advisor for personalized loan advice.