EMI Calculator




Monthly EMI:
Total Principal:
Total Amount:
Total Interest:

Understanding EMI (Equated Monthly Installment)

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both the interest and principal amount of a loan over a predetermined period.

In the context of loans, such as home loans, car loans, or personal loans, the EMI is calculated using a formula that takes into account the loan amount, interest rate, and loan tenure. The borrower pays the EMI every month until the loan is fully repaid.

The EMI consists of two main components:

The total EMI remains constant throughout the loan tenure, but the proportion of principal and interest in each EMI payment changes over time. In the initial stages of the loan, a larger portion of the EMI goes towards interest payments, while in the later stages, a larger portion is allocated to principal repayment.

EMIs provide borrowers with a predictable and structured way to repay their loans over time, making it easier for them to budget their monthly expenses.

What is EMi calculator?

EMI stands for Equated Monthly Installment. An EMI calculator is a financial tool that helps individuals calculate the fixed monthly payments they need to make towards a loan, typically a home loan, car loan, or personal loan. The EMI includes both the principal amount and the interest on the loan, spread over the loan tenure.

The EMI calculation is based on the loan amount, interest rate, and loan tenure. The formula used to calculate EMI involves complex mathematical calculations, but EMI calculators simplify this process for users. Users input the loan amount, interest rate, and tenure into the calculator, and it instantly provides the monthly installment amount.