🏦 EMI Calculator – Equated Monthly Installment
Calculate the fixed monthly installment (EMI) you’ll pay on a loan, plus total interest over its lifetime.
$
%
months
What is EMI?
An Equated Monthly Installment (EMI) is the fixed payment amount a borrower pays each month toward a loan until it is fully repaid, covering both principal and interest.
The formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the number of monthly installments.
This calculator is for general planning purposes. Actual loan terms, fees, and rounding conventions used by lenders may cause small differences from this estimate.
Last reviewed August 2026