🏧
Fixed Deposit Calculator
Calculate FD maturity with compounding.
Use Calculator →EMI Calculator
Calculate your Equated Monthly Installment (EMI) for loans. Find out monthly payments, total interest, and total amount payable for home, car, or personal loans.
Results
Total Amount Payable
₹ 0
Total Interest
₹ 0
Monthly EMI
₹ 0
Total Months
0
Monthly Interest Rate
0.00%
Frequently Asked Questions
What is EMI (Equated Monthly Installment)?
EMI is a fixed monthly payment you make to repay a loan. It includes both principal and interest components. The EMI amount remains constant throughout the loan tenure.
How is EMI calculated?
EMI is calculated using the formula: EMI = (P × r × (1 + r)^n) / ((1 + r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months. Our calculator uses this formula to provide accurate results.
Does EMI include principal and interest?
Yes, each EMI payment includes both principal repayment and interest. In early months, most goes toward interest, while in later months, more goes toward principal. This is called amortization.
Can I pay off the loan early?
Yes, most loans allow prepayment or early repayment. Check your loan agreement for prepayment penalties. Early repayment reduces total interest paid and shortens the loan tenure.
What is the impact of loan tenure on EMI?
Longer tenure results in lower EMI but higher total interest paid. Shorter tenure means higher EMI but less total interest. Choose based on your monthly payment capacity.
Is the interest rate fixed or variable?
Interest rates can be fixed (remains same throughout) or floating (varies based on market rates). Most home loans use floating rates, while some personal loans offer fixed rates. Confirm with your lender.