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Free loan EMI calculator
Estimate monthly installments, total interest and the full cost of borrowing with a standard reducing-balance EMI formula.
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Illustrative estimate only. Check lender or provider terms.How is EMI calculated?
For a fixed-rate, reducing-balance loan, the monthly payment equals P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is annual interest divided by 12, and n is the number of monthly payments. A zero-interest loan divides principal by months. Actual lender charges and variable rates may differ.
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