💳 EMI Calculator

💳 What is an EMI Calculator?

An EMI (Equated Monthly Installment) calculator helps you quickly estimate your monthly loan payment. It's useful when planning home, car, or personal loans.

⚙️ How to Use It

• Enter the loan amount
• Add the interest rate
• Select the loan duration
• View your monthly EMI instantly

📘 EMI Formula

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

P = Loan Amount, R = Monthly Interest Rate, N = Tenure in Months

🎯 Why Use This EMI Calculator?

• ✅ Instant and accurate results
• ✅ Clear interest and total repayment breakdown
• ✅ Works with INR, USD, EUR, GBP, JPY
• ✅ Mobile-friendly, no sign-up needed

📈 Example

For a ₹5,00,000 loan at 10% interest for 5 years:

• Monthly EMI: ₹10,623
• Total Repayment: ₹6,37,398
• Total Interest: ₹1,37,398

❓ FAQs

What is EMI?

It’s the fixed amount you repay monthly for your loan.

Does EMI change?

Only if your loan has a floating interest rate.

What affects EMI?

Loan amount, interest rate, and tenure.

Can I prepay my loan?

Yes, most banks allow it to reduce EMI or tenure.

How accurate is this calculator?

It uses standard formulas. Actual values may vary slightly by lender.

🚀 Who Can Use It?

• 🏠 Home buyers
• 🚗 Car or bike loan seekers
• 📚 Students with education loans
• 💼 Anyone planning a personal or business loan