📅
EMI Calculator
Calculate Equated Monthly Installments for any loan
Loan Details
₹
%
months
= 20.0 years
Monthly EMI
$4,339
💳
Total Interest
$541,388
📊
Total Amount
$1,041,388
💰
Loan Tenure
240 months
📅
Payment Breakdown
EMI Breakdown
Principal Amount:₹500,000
Total Interest:₹541,388
Total Payment:₹1,041,388
Monthly EMI:₹4,339
Yearly Payment Breakdown
Understanding EMI
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month.
EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
- P = Principal loan amount
- R = Monthly interest rate
- N = Number of months
Tips
- Shorter tenure = less interest
- Higher down payment = lower EMI
- Pre-payments reduce interest burden
- Compare rates across lenders