EMI Calculator

Calculate your Equated Monthly Installment (EMI) for loans with our easy-to-use calculator

Loan Details

₹5,00,000
₹50K₹1Cr
8.5%
5%20%
5 Years
1 Year30 Years

Or Enter Values Manually

Monthly EMI

₹0

Pay this amount every month for 60 months

Principal Amount
₹5,00,000
Total Interest
₹0
Total Amount Payable
₹0

Payment Breakdown

PrincipalInfinity%
InterestNaN%

Understanding EMI

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

How is EMI Calculated?

The EMI calculation is based on the following formula:

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

Where:

  • P = Principal loan amount
  • R = Monthly interest rate (Annual rate / 12 / 100)
  • N = Loan tenure in months