Calculate monthly EMI for any loan using the standard reducing balance formula. Used by millions in India for home, car, and personal loan planning.
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EMI Formula
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1) P = Principal | r = Monthly rate | n = Months
₹5,00,000 at 9% for 5 years (60 months): EMI = ₹10,378/month | Total Interest = ₹1,22,680
Frequently Asked Questions
EMI (Equated Monthly Instalment) is the fixed monthly amount paid to repay a loan, covering both principal and interest.
Increase the loan tenure, make a larger down payment, negotiate a lower interest rate, or make partial prepayments to reduce the outstanding principal.