🏦 EMI Calculator
Calculate the Equated Monthly Installment (EMI) for any loan. Enter the loan amount, interest rate, and tenure to instantly see your monthly payment, total interest, and amortization breakdown.
EMI Formula
Real-World Example
Home loan of $200,000 at 7.5% p.a. for 20 years:
Frequently Asked Questions
EMI stands for Equated Monthly Installment. It is the fixed payment you make to a lender every month until the loan is fully repaid.
EMI is calculated using the reducing balance method. Each month, interest is charged on the outstanding principal, and the rest of your payment reduces the principal.
Yes. Making lump-sum prepayments can either reduce your EMI (keeping tenure the same) or reduce your tenure (keeping EMI the same). Both save significant interest.
EMI is affected by three factors: loan amount, interest rate, and tenure. Higher amounts or rates increase EMI; longer tenures lower EMI but increase total interest paid.
Yes, it uses the standard EMI formula used by all banks and financial institutions. For bank-specific figures, contact your lender as processing fees and other charges may apply.
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