💳 Loan EMI Calculator
Calculate your monthly loan installment, total interest payable, and see a full repayment breakdown.
What is EMI and How is it Calculated?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each EMI contains two parts: the principal repayment and the interest charge. In early months, a larger portion goes toward interest. Over time, more goes toward the principal.
The EMI formula 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), and n is the number of monthly installments.
Students commonly use this calculator for education loans, personal loans, and car loans to understand the true cost of borrowing before committing to a loan agreement.
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