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Monthly Payment (EMI)
Principal Amount
Total Interest
Total Payment
Calculate your monthly loan payments (EMI).
Principal Amount
Total Interest
Total Payment
EMI stands for Equated Monthly Installment. It is the 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 paid off in full.
The monthly payment is calculated using a standard formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly installments.