EMI Calculator (Loan / Mortgage)
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Free EMI Calculator - Calculate Loan EMI Instantly
Our free EMI calculator helps you calculate Equated Monthly Installment (EMI) for any loan instantly. Whether you're planning to take a home loan, car loan, personal loan, or any other type of loan, this calculator provides accurate EMI calculations along with a complete payment schedule.
EMI is the fixed amount you pay every month to your lender until the loan is fully repaid. It includes both principal and interest components. Our calculator uses the standard EMI formula to give you precise results, helping you plan your finances better.
How to Use the EMI Calculator
- Enter the loan amount (principal) you want to borrow
- Enter the annual interest rate offered by your lender
- Select the loan tenure in years or months
- Click "Calculate EMI" to get instant results
- View the payment schedule to see monthly breakdown
EMI Formula
The EMI is calculated using the formula: EMI = [P × R × (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.
Important Disclaimer
This EMI calculator is for estimation purposes only. Actual EMI amounts may vary based on the lender's terms and conditions, processing fees, and other charges. Please consult with your financial institution for accurate loan details and final EMI calculations.
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