Online Smart EMI Calculator
Loan Amount (₹) Interest Rate (% p.a) Loan Ten...
Monthly EMI
₹10,258
Principal Amount:
₹5,00,000
Total Interest:
₹1,15,502
Total Amount Payable:
₹6,15,502
How is EMI Calculated?
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Our calculator uses the standard banking formula: E = P x R x (1+R)^N / [(1+R)^N-1]
- E is EMI
- P is Principal Loan Amount
- R is rate of interest calculated on monthly basis
- N is loan tenure in months