What does EMI stand for?

EMI stands for Equated Monthly Installment. It is the fixed monthly payment made to repay a loan over a specified tenure.

How does tenure affect my EMI?

A longer tenure reduces your monthly EMI but increases the total interest paid. A shorter tenure increases EMI but reduces total interest.

Calculate equated monthly installments (EMI) for loans using the standard formula.

Principal Amount

Annual Interest Rate

Loan Tenure (months)

5 years 0 months

Monthly EMI

10,500.93

Principal500,000.00

Total Interest130,055.84

Total Payment630,055.84

Formula: EMI = [P × R × (1+R)ᴿ] / [(1+R)ᴿ − 1]

Enter the principal amount, annual interest rate (%), and loan tenure in months. The EMI is calculated instantly using the standard formula.

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = Principal, R = Monthly interest rate (Annual rate ÷ 12 ÷ 100), N = Tenure in months.

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