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EMI Calculator
Calculate your monthly EMI for home, car, or personal loans.
Monthly EMI
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Total Interest
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EMI Calculator
Our EMI calculator computes monthly installments for home loans, car loans, and personal loans.
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
Example: ₹20 lakh at 8.5% for 20 years: EMI ≈ ₹17,356. Total payment ≈ ₹41.65 lakh. Interest ≈ ₹21.65 lakh.
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Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed monthly payment made to repay a loan over a specified tenure. It includes both principal and interest.
What is the EMI formula?
EMI = P × r × (1+r)^n / ((1+r)^n - 1). Where P = Principal, r = monthly interest rate, n = number of months.
What is prepayment?
Prepayment means paying extra amount beyond your EMI to reduce the outstanding principal. This reduces total interest paid and shortens the loan tenure.