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Loan EMI Calculator

Calculate your equated monthly installment (EMI), total interest payable, and total loan cost for home, car, or personal loans.

Personal & Car Loan EMI Calculator

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Total Interest
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What is an Equated Monthly Installment (EMI)?

An Equated Monthly Installment (EMI) is a fixed payment made by a borrower to a financial institution on a specified date each calendar month. EMIs are applied to both interest and principal over a specified loan tenure.

The EMI Calculation Formula

Financial institutions calculate EMI using the standard mathematical formula:

EMI = P × r × (1 + r)n / ((1 + r)n − 1)