EMI Calculator

Calculate your Equated Monthly Installments with precision and plan your finances better

Modern Loan EMI Calculator

EMI Calculator

$1,000 to $1,000,000
%
1% to 30%
1 to 30 years
Monthly Payment $501.00
Total Interest Payable $5,060.00
Total Payment $30,060.00
Payment Breakdown
Principal: 65% Interest: 35%

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Why use this tool?

Financial Planning

Plan your budget by knowing your exact monthly outflow

Compare Options

Evaluate different loan amounts and tenures

Transparency

Understand the interest component of your payments

Informed Decisions

Make better borrowing decisions with accurate data

About the EMI Calculator

Our EMI Calculator is a free financial tool that helps you calculate your Equated Monthly Installment (EMI) for loans. Whether you’re planning to take a home loan, car loan, or personal loan, this calculator provides accurate results to help you plan your finances effectively.

The calculator uses the standard EMI formula to compute your monthly payments based on the loan amount, interest rate, and loan tenure.

How to Use the EMI Calculator Tool

Enter the loan amount you wish to borrow

Input the annual interest rate offered by your lender

Select the loan tenure (in years)

Click the “Calculate EMI” button

Review your monthly payment amount and total interest

Adjust the parameters to compare different scenarios

FAQs

What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay to the lender each month to repay your loan, which includes both principal and interest components.
EMI is calculated using the formula: [P x R x (1+R)^N]/[(1+R)^N-1] where P is the principal loan amount, R is the monthly interest rate, and N is the number of monthly installments.
Generally, EMI remains fixed for the entire loan tenure unless you opt for a floating interest rate loan or request changes to your loan terms from the lender.
EMI is primarily affected by the loan amount, interest rate, and loan tenure. Higher loan amounts and interest rates increase EMI, while longer tenures reduce EMI.

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