EMI Calculator
Calculate your monthly EMI payments for loans
Understanding EMI Calculation
EMI (Equated Monthly Installment) is the fixed amount you pay monthly towards your loan. It includes both principal and interest components.
The EMI formula used is: EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ - 1], where:
- P is the Principal loan amount
- r is the monthly interest rate (annual rate ÷ 12 ÷ 100)
- n is the total number of monthly installments (tenure in years × 12)
Understanding EMI Calculations
An EMI (Equated Monthly Installment) calculator helps determine your monthly loan payments. It considers principal amount, interest rate, and loan tenure to calculate fixed monthly payments. Understanding EMI calculations is crucial for financial planning and managing loan repayments effectively.
Related Topics
loan calculatormortgagefinancedebt managementinterest rateloan tenureprincipal amount