Finance Calculators
EMI Calculator
Calculate your Equated Monthly Installment (EMI) for loans and mortgages.
$
%
Loan Summary
Monthly Payment (EMI):$599.55
Total Principal:$100000.00
Total Interest:$115838.19
Total Repayment:$215838.19
Amortization Formula
EMI = [P × R × (1+R)N] / [(1+R)N - 1]
Where P = Principal, R = Monthly interest rate, N = Number of months.
These calculators are for general informational use only and are not financial, tax, or legal advice.
Related calculators
Frequently Asked Questions
What does EMI stand for?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender on a specified date each calendar month.
How is EMI calculated?
The formula used is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is Principal, R is the monthly rate, and N is the number of months.
Does EMI change over time?
For a fixed-rate loan, the EMI amount stays exactly the same every month. However, the proportion of interest vs. principal in each payment changes.