EMI calculator online
Calculate loan EMI (monthly payment), total interest, and total payable amount.
EMI formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
P = principal, r = monthly rate (annual%/12/100), n = number of months
What is EMI?
EMI stands for Equated Monthly Instalment. It’s the fixed amount you pay every month to repay a loan. Each EMI includes a part of the principal and a part of the interest. In the early months, the interest component is higher. Over time, the principal repayment increases.
How to calculate EMI
You need three inputs: loan amount (principal), annual interest rate, and tenure. This calculator converts the annual rate to a monthly rate and applies the standard EMI formula. The output includes your monthly EMI, total interest payable, and total amount payable.
Why use this EMI calculator online?
It saves time and reduces mistakes compared to manual calculations. You can quickly compare different interest rates or tenures to see how they impact EMI and total interest.
FAQ
Common questions are covered in the FAQ section above for rich results.