🏦 EMI Calculator - Calculate Loan EMI Online
Calculate your monthly loan payments (EMI) for home loans, car loans, personal loans & more. Get instant results with our free EMI calculator.
💰 Your EMI Breakdown
Monthly EMI: ₹0.00
Total Payment: ₹0.00
Total Interest: ₹0.00
📊 Loan Amortization Schedule
💡 Pro Tip: A lower interest rate or shorter tenure can significantly reduce your total interest.
📚 What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both interest and principal each month, so that over a specified period, the loan is paid off in full.
🧮 How is EMI Calculated?
EMI is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (Annual Rate / 12 / 100)
- N = Loan tenure in months
💡 Tips to Reduce Your EMI
- 💰 Make a larger down payment to reduce the loan amount
- 📉 Choose a longer tenure for lower monthly EMI (but higher total interest)
- 🏦 Compare interest rates from different lenders
- ⚡ Consider making prepayments to reduce principal