🏦 EMI Calculator
Calculate your loan EMI, total interest and total payment — instantly & free.
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EMI (Equated Monthly Instalment) is the fixed amount you pay every month until your loan is fully repaid. It is calculated using this formula:
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]
Where P = loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = number of months. A higher interest rate or longer tenure increases the total interest you pay.
Tips to reduce your EMI burden
Choose a shorter tenure if you can afford a higher EMI — it sharply cuts total interest. Make part-prepayments when you have surplus cash, and always compare interest rates across lenders before signing.
Frequently Asked Questions
- Is this EMI calculator free?
- Yes — it is 100% free, requires no sign-up, and runs entirely in your browser. No data is sent anywhere.
- Does it work for home, car and personal loans?
- Yes. The formula is the same for any reducing-balance loan — just enter the amount, rate and tenure.
- Is the EMI shown exactly what my bank will charge?
- It is an accurate estimate. Banks may add processing fees, insurance or GST, so your actual outgo can differ slightly.
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⚠️ This calculator is for educational and estimation purposes only and is not financial advice. AI360Trading is not SEBI registered. Confirm exact figures with your bank or lender.