EMI Calculator Online – Home, Car & Personal Loans

What is EMI (Equated Monthly Installment)?

EMI or Equated Monthly Installment is the fixed amount a borrower pays every month towards repaying a loan. It includes both principal repayment and interest. This EMI calculator helps you calculate monthly EMI easily for different types of loans.

How to Use EMI Calculator

1. Enter loan amount
2. Enter interest rate
3. Enter loan tenure in years
4. Click calculate

EMI Calculation Formula

EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]

P = Loan amount  
R = Monthly interest rate  
N = Loan tenure in months

Types of Loans Supported

• Home Loan EMI Calculator
• Car Loan EMI Calculator
• Personal Loan EMI Calculator
• Education Loan EMI Calculator

Benefits of using an EMI calculator

• Estimate monthly outflow before applying for a loan
• Compare tenure vs interest trade-offs
• Plan total interest cost alongside EMI
• Free to use in the browser

Example

For a ₹5,00,000 loan at 12% annual interest for 5 years: monthly rate R = 0.12 / 12 = 0.01, tenure N = 60 months. EMI ≈ ₹11,122; total payment ≈ ₹6,67,335; total interest ≈ ₹1,67,335.

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