About Loan EMI Calculator
Calculate Equated Monthly Installments (EMI) for loans. EMI is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. This calculator helps you understand your monthly payment obligations.
EMI Calculation Tips
- EMI Formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
- P: Principal loan amount
- r: Monthly interest rate (annual rate ÷ 12)
- n: Total number of months
- Prepayment: Reduces total interest and loan term
- Processing Fee: One-time charge for loan processing