💰 EMI Calculator
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
