EMI Calculator
Calculate your Equated Monthly Installment
EMI is calculated using the reducing balance method. The formula considers principal, interest rate, and loan tenure.
EMI Result
Calculated monthly installment details
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About EMI
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the entire loan is paid off in full.
EMI Formula
EMI = P × r × (1 + r)^n / [(1 + r)^n - 1]
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
n = Total number of monthly installments