EMI Calculator
Calculate monthly installments for loans with customizable inputs.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. It includes both principal and interest components.
How is EMI calculated?
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P = principal, r = monthly interest rate, n = tenure in months.
Does a longer tenure reduce EMI?
Yes. A longer tenure reduces monthly EMI but increases total interest paid over the loan lifetime.