How to Use This Calculator
Enter the loan amount, annual interest rate, and loan tenure in years. The calculator computes your EMI, total payment, and total interest.
Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where P = principal, r = monthly rate, n = total months.
Examples
Example
Loan: $500,000 at 8.5% for 5 years
Monthly EMI: $10,241
Total Interest: $114,444
Frequently Asked Questions
What does EMI stand for?
EMI stands for Equated Monthly Installment. It is the fixed monthly payment made to repay a loan over the agreed tenure.
Can I reduce my EMI?
You can reduce EMI by: negotiating a lower interest rate, increasing the loan tenure (though this increases total interest), or making a larger down payment to reduce the principal.