EMI Calculator

Calculate your Equated Monthly Installments (EMI) for loans, mortgages, and credit. Our advanced calculator helps you plan your finances with detailed breakdowns and visualizations.

Loan Details

Payment Summary

Your EMI Calculation

Enter your loan details and click "Calculate EMI" to see your payment plan

Payment Breakdown

About EMI Calculator

Our EMI Calculator is a powerful financial tool that helps you understand your loan repayment structure. Whether you're planning for a home loan, car loan, personal loan, or education loan, this calculator provides accurate monthly payment estimates.

How It Works

The calculator uses the standard EMI formula to determine your monthly payment:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
P = Principal loan amount
R = Monthly interest rate (annual rate / 12 / 100)
N = Loan tenure in months

Benefits of Using Our EMI Calculator

  • Financial Planning: Accurately budget your monthly expenses
  • Compare Options: Evaluate different loan offers and tenures
  • Save Money: Understand how extra payments can reduce interest
  • Time Saving: Instant calculations without complex math
  • Visual Insights: Clear charts showing principal vs interest

Frequently Asked Questions

What is EMI?

EMI stands for Equated Monthly Installment. It's the fixed payment amount made by a borrower to a lender at a specified date each calendar month.

How is EMI calculated?

EMI is calculated using the principal loan amount, loan tenure, and interest rate. The formula considers compounding interest to determine a fixed monthly payment.

Does this calculator include processing fees?

Our calculator focuses on the principal and interest components. For complete accuracy, you should add any processing fees to the loan amount.

Can I calculate EMIs for different currencies?

While the calculator displays results in dollars, you can use any currency by entering amounts in your local currency. The calculations are currency-agnostic.