🏠EMI Calculator
EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans.
Loan Details
₹
Enter the total loan amount you need
1,00,0005,00,00,000
%
Current interest rates range from 6.5% to 14%
120
months
20 years
12360
Note: This calculator provides an estimate. Actual EMI may vary based on the lender's terms and processing fees.
Monthly EMI
₹0
Pay this amount every month for 20 years
Loan Breakdown
Principal Amount₹10,00,000
Total Interest₹0
Total Amount Payable₹0
Loan Composition
PrincipalInfinity%
InterestNaN%
Understanding EMI
EMI (Equated Monthly Installment) is a fixed amount you pay to the lender every month until the loan is fully repaid. It includes both principal and interest components.
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 = Loan tenure in months
Factors Affecting EMI
- Loan Amount: Higher loan = Higher EMI
- Interest Rate: Higher rate = Higher EMI
- Tenure: Longer tenure = Lower EMI but higher total interest