Home loan EMI Calculator

Loan Summary

Loan EMI: 0.00 per month

Total Interest Payable: 0.00

Total Payment: INR 0.00

Loan Analysis

Loan Breakdown

Month EMI Interest Paid Principal Paid Remaining Principal
Try Other calculator

Your Support Matters!

Instead of directly asking for donations, I'm thrilled to offer you all nine of my books for just $9 on leanpub By grabbing this bundle you not only help cover my coffee, beer, and Amazon bills but also play a crucial role in advancing and refining this project. Your contribution is indispensable, and I'm genuinely grateful for your involvement in this journey!

Any private key value that you enter or we generate is not stored on this site, this tool is provided via an HTTPS URL to ensure that private keys cannot be stolen, for extra security run this software on your network, no cloud dependency



Understanding EMI (Equated Monthly Installment)

EMI, or Equated Monthly Installment, is a fixed amount of money that you pay each month towards the repayment of a loan. It includes both the principal amount and the interest on the loan.

EMI Calculation Formula

The formula to calculate EMI is:

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]

Where:

  • EMI is the Equated Monthly Installment.
  • P is the principal loan amount (the initial loan amount you borrowed).
  • R is the monthly interest rate (annual interest rate divided by 12 months).
  • N is the loan tenure in months (the number of months over which you will repay the loan).

Example

Let's say you borrowed INR 50,000 as a personal loan with an annual interest rate of 9% for a tenure of 24 months (2 years).

Using the EMI formula:

EMI = [50,000 x (0.09/12) x (1+0.09/12)^24] / [(1+0.09/12)^24 - 1]

EMI ≈ INR 2,261.82 per month

So, your Equated Monthly Installment (EMI) would be approximately INR 2,261.82.

EMI makes it easier to manage your loan repayments as it ensures a consistent monthly payment, which includes both the principal and interest components.