P/L Calculator Average Calculator Percentage Change Calculator Percentage Calculator Loan EMI Calculator Tip Calculator

Loan EMI Calculator

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Loan Amount

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Monthly EMI

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Total Interest

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Total Amount with interest

How to Use

  1. Enter the loan amount, tenure, and interest rate in the respective fields.
  2. Click the "Calculate" button to view your monthly EMI, total interest, and total payment.
  3. Use the "Reset" button to clear all fields and start a new calculation.

Formula Explanation

  1. EMI is calculated using the formula: 
    EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
    Where:
    • P: Principal Loan Amount
    • R: Monthly Interest Rate (Annual Rate / 12 / 100)
    • N: Loan Tenure in Months

What is a Loan EMI Calculator?

A Loan EMI (Equated Monthly Installment) Calculator is a tool that helps borrowers estimate their monthly loan payments. It calculates the EMI based on:

  • Loan Amount (P) – The total money borrowed.
  • Interest Rate (r) – The annual rate converted to a monthly rate.
  • Loan Tenure (n) – The total number of months for repayment.

The EMI is calculated using the formula:

EMI = [P × r × (1 + r)n] / [(1 + r)n - 1]

This tool helps users plan their finances by understanding repayment schedules, total interest paid, and affordability before taking a loan. It is commonly used for home, car, and personal loans.