EMI Calculator
Calculate your loan EMI (Equated Monthly Installment) with interest. Plan your finances with ease.
How to use:
- • Enter the loan amount (principal)
- • Enter the annual interest rate
- • Specify the loan tenure in months
- • View your monthly EMI and total interest
- • Values update instantly as you change inputs
Understanding EMI
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your loan. It includes both principal and interest components.
EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]
Where P = Principal, R = Monthly Interest Rate, N = Number of months
How to Reduce EMI
- Increase the loan tenure (but increases total interest)
- Make a larger down payment
- Look for loans with lower interest rates
- Prepay the loan if possible
Typical Interest Rates (2026)
Home Loans:8-12% p.a.
Auto Loans:5-10% p.a.
Personal Loans:10-18% p.a.
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