Loan EMI Calculator
Calculate Equated Monthly Installments for any loan
Loan Details
Total amount you want to borrow
Annual interest rate
Total Loan Tenure
60 months (5.0 years)
EMI Calculation
Enter loan details and click Calculate
Fill in the form to see your EMI and payment schedule
Understanding EMI
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off.
EMI Formula
Where: P = Principal, r = Monthly interest rate, n = Number of monthly installments
Tips to Reduce EMI
- Longer tenure: Increases total interest but reduces monthly burden
- Higher down payment: Lower principal means lower EMI
- Better credit score: May qualify for lower interest rates
- Prepayments: Make lump sum payments to reduce principal
Disclaimer: This calculator is for informational purposes only and should not be considered financial, tax, or legal advice. Results are estimates based on the information provided and current tax laws. Consult a qualified professional for advice specific to your situation.
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