EMI Calculator

An EMI Calculator helps you estimate the monthly installment you need to pay for a loan based on the loan amount, interest rate, and repayment tenure. EMI stands for Equated Monthly Installment, which includes both principal and interest components.

EMI calculation is essential before taking any loan, whether it is a home loan, personal loan, car loan, or business loan. It helps borrowers understand affordability and plan their finances effectively.

How EMI is Calculated

EMI is calculated using a standard formula that considers the loan principal, monthly interest rate, and total number of installments. Banks and financial institutions use this method to ensure consistent repayment schedules.

Example of EMI Calculation

If you take a loan of ₹5,00,000 at an annual interest rate of 10.5% for a tenure of 5 years, the EMI calculator will instantly show your monthly payment along with total interest payable over the loan period.

Why EMI Calculation Matters

Knowing your EMI in advance helps you compare loan offers, choose the right tenure, and avoid financial stress. It also helps in budgeting monthly expenses more efficiently.

For long-term savings planning, you can also explore our PPF Calculator to estimate returns on public provident fund investments.