Embeddable EMI Calculator

Our EMI (Equated Monthly Installment) calculator helps you determine your monthly loan repayment amount. It's an essential tool for planning personal loans, car loans, home loans, and other types of installment-based borrowing.

What is EMI?

EMI stands for Equated Monthly Installment - a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both interest and principal each month, ensuring the loan is fully paid by the end of the term.

EMI Calculation Formula

The formula for calculating EMI is: EMI = [P × R × (1+R)^N] / [(1+R)^N-1]

• P = Principal loan amount
• R = Monthly interest rate (Annual rate / 12 / 100)
• N = Number of monthly installments (Tenure in years × 12)

Types of Loans Using EMI

• Home loans and mortgages
• Personal loans
• Auto/car loans
• Education loans
• Business loans
• Gold loans

Example

For a loan of $50,000 at 8% annual interest for 5 years: Monthly EMI = $1,013.82 Total amount payable = $60,829.20 Total interest = $10,829.20