EMI Calculator

Calculate Equated Monthly Installment (EMI) for any loan with detailed amortization schedule

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years

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Frequently Asked Questions

What is EMI?

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate, and N is the loan tenure in months.