EMI Loan Calculator
About this tool
The EMI (equated monthly installment) calculator shows your monthly payment, total interest and total repayment for car, home, personal or education loans.
FAQ
What is the EMI formula?
EMI = P x r x (1+r)^n / ((1+r)^n – 1), where P is the loan, r is the monthly rate and n is the number of months.
Does a longer tenure reduce EMI?
Yes, the monthly payment falls but you pay more interest in total.