More About EMI

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. The loan EMI calculator helps you to calculate your EMI by entering the loan amount, annual interest rate, and loan tenure. The formula for calculating EMI is: EMI = [P x R x (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 installments. This calculator provides an easy way to estimate your monthly EMI.