Get a simple explanation of the formula used in this calculator.
P * r * (1+r)^n / ((1+r)^n - 1)
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Enter Loan Details
Your Loan EMI
Monthly EMI
₹10,258
Principal Amount:₹5,00,000
Total Interest:₹1,15,496
Total Payable:₹6,15,496
About the EMI Calculator
Our EMI Calculator helps you find your Equated Monthly Installments (EMI) in just a few clicks. Knowing your EMI in advance allows you to plan your finances better. This tool is useful for home loans, car loans, or personal loans. By entering the loan amount, interest rate, and tenure, you can instantly get your monthly payment and total loan cost.
How to Use the EMI Calculator
Enter the **Loan Amount** you wish to borrow.
Input the **Annual Interest Rate**.
Select the **Loan Tenure** (in years).
(Optional) Add any extra monthly or yearly payments to see how it reduces your loan duration and saves you money.
Understanding Your EMI Results
Monthly EMI: This is the fixed amount you will pay to the bank every month.
Total Interest Payable: This shows the *cost* of borrowing the money. A lower figure here is always better.
Total Payment: This is the sum of the principal loan amount and the total interest.