Loan EMI Calculator

What is a Loan EMI?

EMI (Equated Monthly Instalment) is the fixed amount you pay every month towards your loan. It includes both principal and interest.

EMI formula:
EMI = P × R × (1+R)^N / ((1+R)^N − 1)

• P = Loan amount (principal)
• R = Monthly interest rate (annual rate / 12 / 100)
• N = Total number of monthly EMIs