EMI Calculator
Calculate your Monthly EMI for Home Loan, Car Loan & Personal Loan instantly
12 months = 1 year
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender each month. It includes both the principal repayment and the interest charges.
EMI Formula
EMI = P A r A (1+r) / [(1+r) 1]
Where: P = Loan Principal, r = Monthly Interest Rate (Annual Rate 12 100), n = Number of Monthly Installments
Tips to Reduce Your EMI
- Opt for a longer tenure " reduces monthly payment but increases total interest
- Negotiate a lower interest rate with your bank
- Make a larger down payment to reduce the principal
- Use prepayment options when you have surplus funds