EMI Calculator
Home, car & personal loans — see your monthly EMI and total interest instantly.
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How EMI is calculated
EMI (Equated Monthly Instalment) is found with this formula:
EMI = P × r × (1+r)n ÷ [(1+r)n − 1]
- P = loan amount (principal)
- r = monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = number of monthly instalments (years × 12)
FAQ
- Does a longer tenure reduce my EMI?
- Yes, but you pay more total interest. Try the slider to compare.
- Is processing fee included?
- No. Banks usually charge a one-time processing fee separately.