Calculate your monthly loan payment (EMI) based on principal amount, interest rate, and loan duration. Perfect for home loans, car loans, and personal loans.
How it works: EMI (Equated Monthly Installment) is calculated using the formula: EMI = P × R × (1 + R)^N / ((1 + R)^N - 1), where P is principal, R is monthly interest rate, and N is number of months.
EMI stands for Equated Monthly Installment. It's the fixed amount you pay each month to repay a loan, including both principal and interest.
EMI is calculated using a mathematical formula based on the principal amount, interest rate, and loan tenure. Our calculator does this automatically for you.
Three factors affect EMI: principal amount (higher loan = higher EMI), interest rate (higher rate = higher EMI), and tenure (longer tenure = lower EMI).