What is EMI?

EMI (Equated Monthly Installment) is the fixed monthly amount paid towards loan repayment. It includes both principal and interest amount.

EMI Formula

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ – 1)

Where P = Loan Amount, r = Monthly Interest Rate, n = Total Months.

Benefits of Using EMI Calculator

• Instant EMI calculation
• Better financial planning
• Compare different loan options
• Accurate results