The EMI calculator is designed to determine the monthly EMI payment and total interest amount for a home, car, or personal loan.
Are you planning to borrow a loan for your car, home, or personal use? Try our EMI Calculator to check the estimated monthly EMI payment and total payable interest before borrowing. Also, it shows a monthly amortization schedule including interest, principal, and loan balance.
Just input the loan amount, rate of interest (%), and loan tenure in years or months. As a result, the tool will return the principal amount, interest amount, and total amount (principal + interest) within a second.
EMI = |
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Where,
P = Principal amount
R= Rate of interest per month
n = Total number of months or installments