Calculate your Equated Monthly Installment (EMI) for home loan, car loan, education loan, business loan, working capital, and personal loan
Home Loan
EMI (Equated Monthly Installment) is the fixed amount you pay to the bank/lender each month until the loan is fully repaid. It consists of both principal and interest components.
EMI = [P x R x (1+R)^N] / [(1+R)^N-1] where P=Principal, R=Monthly Interest Rate, N=Loan Tenure in months.
EMI depends on loan amount, interest rate, and tenure. Higher loan amount or interest rate increases EMI, while longer tenure reduces EMI but increases total interest.