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EMI Calculator
Calculate monthly loan EMI, total interest, and payment schedule.
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About EMI Calculator
An EMI (Equated Monthly Installment) is a fixed payment made by a borrower to a lender on a specified date each month. EMIs are used to pay off both interest and principal every month so that the loan is fully repaid after a specified number of months.
The formula is: EMI = P × R × (1+R)^N / ((1+R)^N − 1), where P = Principal, R = monthly interest rate, N = number of months. Compare EMIs for home loans, car loans, and personal loans to make informed financial decisions.