emi-calculator
EMI Calculator
Calculate your loan EMI, total interest and total amount payable. Works for home loan, personal loan and car loan.
How EMI is Calculated
EMI (Equated Monthly Installment) is calculated using a standard formula based on loan amount, interest rate and tenure.
EMI Calculation Formula
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
Where:
P = Loan amount
r = Monthly interest rate
n = Total number of months
Example EMI Calculation
For a loan of ₹5,00,000 at 9% interest for 20 years, the EMI will be around ₹4,500–₹4,700 per month.
Frequently Asked Questions
Is EMI fixed for entire loan tenure?
Yes, for fixed-rate loans. For floating-rate loans, EMI may change.
Does EMI include interest?
Yes, EMI includes both principal and interest.
Is this EMI calculator accurate?
Yes, it uses the standard EMI calculation formula used by banks.
Disclaimer
EMI values shown are approximate and for educational purposes only. Actual loan terms may vary by bank or lender.
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