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Loan / EMI Calculator
Planning a home loan, car loan, or personal loan? This free EMI calculator works out your Equated Monthly Instalment using the standard reducing-balance formula, based on your loan amount, annual interest rate, and loan tenure in years. Alongside the monthly EMI, it shows the total interest you'll pay over the life of the loan and the total repayment amount — useful for comparing offers from different banks before you commit.
Loan / EMI Calculator
Monthly instalment on a fixed-rate loan.
Also known as: EMI calculator, loan calculator, mortgage calculator, home loan calculator, car loan calculator.
FAQ
How is EMI calculated?
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly instalments.
Does a longer loan tenure reduce EMI?
Yes, a longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan.