EMI

Title

EMI Calculator

Meaning

EMI stands for Equated Monthly Instalment. It is the fixed monthly amount paid to repay a loan.

Usage

Use this calculator to estimate monthly loan payments, total interest, and total repayment before taking a loan.

Loan Amount (₹)

Interest Rate (Annual %)

Tenure (Months)

Formula:

\text{EMI} = \dfrac{P\,r\,(1+r)^{n}}{(1+r)^{n}-1},\quad r=\dfrac{\text{annual\_rate}}{12}

Monthly EMI₹ 10,379

Total Interest₹ 1,22,751

Total Payable₹ 6,22,751