EMI Calculator
Calculate your monthly EMI, total interest, and total payment instantly.
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₹10K₹1Cr
1%30%
1 mo30 yrs
Monthly EMI
₹0
Total Interest
₹0
Total Payment (Principal + Interest)
₹0
How does the EMI Calculator work?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
EMI Calculation Formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
- P: Principal loan amount
- R: Rate of interest per month (Annual Rate / 12 / 100)
- N: Number of monthly installments (Tenure in months)
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