Calculate loan EMI for home, car & personal loans
Your Monthly EMI
₹26,035
Principal
₹30.00 L
Interest
₹32.48 L
Total Payment (240 months)
₹62,48,327
An EMI (Equated Monthly Installment) Calculator is a financial tool that helps you calculate the monthly payment you need to make towards a loan. It uses the loan amount, interest rate, and tenure to provide accurate EMI calculations instantly.
This calculator is essential for planning your finances before taking a home loan, car loan, or personal loan. It helps you understand your monthly financial commitment and total interest payable over the loan period.
EMI (Equated Monthly Installment) is a fixed monthly payment made to a lender. It is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is the principal, R is the monthly interest rate, and N is the number of months.
Yes, you can reduce your EMI by either extending the loan tenure, making prepayments towards the principal, or negotiating a lower interest rate with your lender.
Fixed interest rates remain constant throughout the loan tenure, while floating rates fluctuate based on market conditions. Fixed rates offer stability, while floating rates may be lower initially but can increase.
Yes, our EMI calculator uses the standard EMI formula used by banks and financial institutions, providing accurate results based on the inputs you provide.
No, EMI only includes principal and interest. Processing fees, insurance, and other charges are separate one-time or periodic payments.