emicalculate.net offers a free and easy-to-use EMI Calculator to help you calculate monthly loan EMIs for home loans, personal loans, car loans, and education loans. It provides instant EMI results, total interest payable, and loan affordability insights.
EMI (Equated Monthly Installment) is the fixed monthly payment made by a borrower to repay a loan. It consists of two parts: principal repayment and interest.
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EMI depends on three key factors:
EMI = [P × R × (1 + R)N] / [(1 + R)N − 1]
Where R is the monthly interest rate (annual rate ÷ 12 ÷ 100).
Suppose you take a home loan of ₹30,00,000 at an interest rate of 8.75% for a tenure of 20 years (240 months).
The calculated EMI will be approximately ₹26,700 per month.
Over the full tenure, a significant portion of the total amount paid goes towards interest, making EMI planning extremely important.
EMI for the same loan amount can differ across banks and NBFCs due to variations in interest rates, processing fees, and tenure options.
Comparing EMIs using a calculator helps you choose the most affordable loan option.
Loan costs include multiple components like interest, processing fees, and GST. This calculator provides a transparent breakdown so you can plan better and avoid surprises.
EMI (Equated Monthly Installment) is the fixed monthly payment made towards loan repayment, including both principal and interest.
EMI is calculated using the standard formula: EMI = [P × r × (1+r)^N] / [(1+r)^N − 1], where P is loan amount, r is monthly interest rate, and N is tenure in months.
Yes. This EMI Calculator works for home loans, personal loans, car loans, education loans, and most other loan types.
GST is applicable only on the processing fee, not on interest or principal. This calculator includes GST where applicable.
The calculator uses standard banking formulas. Results are estimates and final EMI may vary based on lender policies.