EMI Calculator
Quick answer
An EMI (equated monthly instalment) is the fixed amount you pay each month to repay a loan. This calculator shows your monthly EMI, total payment and total interest from the loan amount, yearly interest rate and tenure in months.
How it works
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly rate (yearly rate / 12 / 100) and n is the number of months.
Frequently asked questions
Does a longer tenure reduce my EMI?
Yes. A longer tenure lowers the monthly EMI but increases the total interest you pay.
Is the result exact?
It is an estimate. Lenders may add fees or round differently, so check your loan schedule.