EMI Calculator
Instantly calculate monthly EMI, total interest, and view loan balance decline with charts.
EMI Calculator ℹ️
Formula: EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
Where:
P = Loan Amount
r = Monthly Interest Rate (annual ÷ 12 ÷ 100)
n = Loan Tenure (in months)
Assumptions:
– Equal monthly payments.
– Interest compounded monthly.
– No prepayment or penalty considered.
Example:
₹5,00,000 loan at 10% for 5 years → EMI ≈ ₹10,624/month.
Where:
P = Loan Amount
r = Monthly Interest Rate (annual ÷ 12 ÷ 100)
n = Loan Tenure (in months)
Assumptions:
– Equal monthly payments.
– Interest compounded monthly.
– No prepayment or penalty considered.
Example:
₹5,00,000 loan at 10% for 5 years → EMI ≈ ₹10,624/month.
Monthly EMI
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Total Interest
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Total Payment
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