The EMI Calculator is a free online tool that helps you calculate your monthly loan EMI quickly and accurately. Whether you are planning a home loan, car loan, or personal loan, this EMI calculator gives instant results.
EMI stands for Equated Monthly Installment. It is the fixed amount paid by a borrower to the lender every month until the loan is fully repaid. EMI includes both principal and interest components.
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]
Where P is loan amount, R is monthly interest rate, and N is number of monthly installments.
Yes, this EMI calculator is completely free.
The EMI result is accurate based on the inputs provided.
Yes, you can calculate EMI for any type of loan.