EMI Calculator
Calculate your Equated Monthly Installment
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Enter your loan details and click "Calculate EMI".
Understanding EMI Calculations
Master loan calculations, interest rates, and make informed borrowing decisions for homes, cars, and personal loans.
What is EMI?
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each month. It includes both principal and interest components.
EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is loan tenure in months.
Interest vs Principal
Initially, a larger portion goes toward interest. Over time, the principal component increases while interest decreases, creating an amortization schedule.
Pro Tips
- Compare interest rates from multiple lenders
- Consider prepayment to reduce total interest burden
- Factor in processing fees and other charges
- Choose tenure based on your repayment capacity
Have Questions?
Check our comprehensive FAQ section
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