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EMI Calculator

Monthly EMI ₹0

Total interest ₹0

Total payment ₹0

What is an EMI Calculator?

An EMI (Equated Monthly Installment) calculator helps you understand how much you will pay monthly when you take a loan. It factors in the loan amount, interest rate, and tenure to compute your EMI and total repayment.

Why Use an EMI Calculator?

  • 📅 Plan your monthly budget efficiently before taking a loan
  • 📊 Compare EMIs across different loan amounts and banks
  • 💡 Understand your total repayment and interest burden
  • 🧠 Make informed borrowing decisions with clarity

Frequently Asked Questions (FAQs)

EMI is calculated using the formula: EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1], where P is the loan amount, r is monthly interest rate, and n is the number of EMIs.

Yes, most lenders allow partial or full prepayment. It may reduce your EMI or tenure, but check for any prepayment charges.

For fixed-rate loans, EMI remains constant. However, for floating-rate loans, EMI may change with interest rate fluctuations.