Loan EMI Calculator

Calculate your Equated Monthly Installment (EMI) for any loan instantly. Enter the loan amount, interest rate, and tenure to get a detailed breakdown of your payments.

Loan Amount ($)

Annual Interest Rate (%)

Loan Tenure (Years)

Monthly EMI

$0.00

Total Interest

$0.00

Total Payment

$0.00

How the EMI Calculator Works

Our Loan EMI Calculator helps you understand your financial commitments before taking a loan. It uses a standard formula to calculate your monthly payments accurately.

✔️ **Enter Loan Details:** Input your desired loan amount, the annual interest rate, and the loan tenure in years.
✔️ **Instant Calculation:** Click the "Calculate EMI" button to see your monthly payment, total interest, and the total amount payable over the loan period.
✔️ **Plan Your Finances:** Use these insights to plan your budget and make informed financial decisions.
✔️ **Free & Secure:** This tool is completely free, and all calculations are performed in your browser, ensuring your data remains private.

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Frequently Asked Questions (FAQs)

What is an EMI?

EMI stands for Equated Monthly Installment. It is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

How is EMI calculated?

EMI is calculated using the formula: P x R x (1+R)^N / [(1+R)^N-1] where P is the principal loan amount, R is the monthly interest rate, and N is the number of monthly installments.

Can I use this calculator for home, car, or personal loans?

Yes, this calculator is versatile and can be used to calculate the EMI for any type of loan, including home loans, car loans, and personal loans. Just enter the correct loan amount, interest rate, and tenure.

Does changing the loan tenure affect my EMI?

Absolutely. A longer loan tenure will result in a lower monthly EMI, but you will pay more in total interest over the life of the loan. A shorter tenure increases the EMI but reduces the total interest paid.