EMI Calculator — Home, Car & Personal Loans
Monthly EMI: -
Total Interest Payable: -
Total Payment: -
Processing Fee: -
| Period | Opening Balance | EMI / Total Payment | Interest | Principal | Closing Balance |
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Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate, and n is the number of months.
What is the difference between EMI in advance and EMI in arrears?
EMI in arrears is paid at the end of the month, while EMI in advance is paid at the beginning. Advance EMI results in a slightly lower monthly payment.
What is a prepayment?
Prepayment is an additional payment made towards the loan principal, which reduces the outstanding balance and total interest.
EMI Calculator Online – Calculate Loan EMI Instantly
What is EMI (Equated Monthly Installment)?
EMI is the fixed monthly payment you make to repay a loan. It includes both principal + interest. An EMI Calculator helps you calculate EMI based on Loan Amount, Interest Rate, and Loan Tenure.
EMI Calculator Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
- P = Loan Amount
- R = Monthly Interest Rate
- N = Loan Tenure in months
Example: Loan ₹10,00,000 @ 8% for 10 years → EMI ≈ ₹12,133/month
Types of EMI Calculators
- Home Loan EMI Calculator
- Personal Loan EMI Calculator
- Car Loan EMI Calculator
- Education Loan EMI Calculator
- Loan Against Property EMI Calculator
Benefits of Using Online EMI Calculator
- ⚡ Instant Results
- 📊 Compare Loans
- 🏠 Plan Monthly Budget
- 🔁 Flexible Analysis
Home Loan EMI Calculator
Home loans have long tenure (up to 30 years). A small interest change impacts EMI a lot. Use a Home Loan EMI Calculator to compare interest rates, plan budget, and see interest vs principal breakup.
EMI Calculator with Prepayment Option
Some calculators allow prepayment. It shows:
- Interest saved
- Reduced tenure
- Faster repayment
FAQs on EMI Calculator
How to calculate EMI manually?
Use the EMI formula or our free calculator for instant results.
Which is the best EMI calculator in India?
Most banking websites (SBI, HDFC, ICICI, Axis) provide accurate EMI calculators.
Can EMI change during the loan period?
Yes, in case of floating rate loans, EMI may increase or decrease.
Does prepayment reduce EMI?
Yes, prepayment reduces either EMI or tenure depending on choice.
Final Words: An online EMI Calculator helps you plan loans smartly. Try our free calculator today for home, car, personal & education loans.