EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans.

Loan Details

₹
₹1L₹5 Cr
%
1%30%
1 Year30 Years

Monthly EMI

₹0

Payment Breakdown

Principal Amount₹10,00,000
Total Interest+₹0
Total Payment₹0
Principal: Infinity%Interest: NaN%

240

Total EMIs

0.0%

Interest Ratio

What is EMI?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified period, the loan is fully paid off.

EMI Formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

Where P = Principal, R = Monthly interest rate, N = Number of months

Types of Loans:

  • Home Loan: Usually 15-30 years tenure, interest rates 7-9%
  • Car Loan: Usually 3-7 years tenure, interest rates 7-12%
  • Personal Loan: Usually 1-5 years tenure, interest rates 10-20%
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