Calculate your monthly EMI for any loan amount, interest rate, and tenure
Computes the fixed monthly payment (Equated Monthly Installment) needed to fully repay a loan over a given term. Each payment covers accruing interest first, with the remainder reducing principal.
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
EMImonthly paymentPloan principalrmonthly interest rate (annual rate ÷ 12)ntotal number of monthly payments (years × 12)EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan over a specified tenure. It includes both principal repayment and interest.
EMI = P × r × (1+r)^n / ((1+r)^n minus 1), where P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly installments.
Yes, a longer tenure reduces the monthly EMI amount, but you end up paying significantly more total interest over the life of the loan.
Flat rate charges interest on the entire original principal. Reducing (or diminishing) rate charges interest only on the outstanding balance, resulting in lower total interest for the same nominal rate.