EMI Calculator

Principal, rate, tenure → monthly EMI.

e.g. 60 for 5 years

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). P=principal, r=monthly rate, n=tenure in months.

How to use

  1. Enter loan principal (amount borrowed).
  2. Enter annual interest rate (e.g. 10 for 10%).
  3. Enter tenure in months (60 for 5 years).
  4. Get monthly EMI, total payment, and total interest.

Formula

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). P=principal, r=monthly rate (annual÷12), n=tenure in months.

Standard reducing balance method used by banks in India.

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FAQs

How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). P=principal, r=monthly interest rate, n=tenure in months.
What affects EMI amount?
Principal (loan amount), interest rate, and tenure. Higher rate or longer tenure increases total interest paid.
EMI for business loan?
Same formula. Business loans typically 1–5 years. Compare rates from banks and NBFCs before taking.
How to reduce EMI?
Increase down payment to reduce principal, or opt for longer tenure (but you pay more total interest).

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