An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month.

How is EMI calculated?

EMI is calculated using the formula: P x R x (1+R)^N / [(1+R)^N-1], where P is Principal, R is monthly interest rate, and N is the number of monthly installments.

Is this calculator accurate?

Yes, this calculator uses standard banking formulas to precisely calculate your monthly payment, total interest, and total payable amount.

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EMI Calculator

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Calculate Equated Monthly Installments for home, car, or personal loans instantly. Professional, secure, and offline-ready.

Loan Details

Loan Amount

Interest Rate (Yearly)

Loan Tenure (Years)

Payment Summary

Monthly EMI

$1,001.90

Total Interest

$10,113.85

Total Payment

$60,113.85

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