Online EMI Calculator

Whether it’s a home loan, car loan, or personal loan, the EMI calculator helps calculate the amount to be paid month-on-month to repay the entire loan proceeds. The loan EMI calculator enables the borrower to plan their monthly financials more effectively. Let’s understand how to calculate loan EMI by using the EMI calculator online.

Loan Calculator

Amount

Length

% Interest

Principal

Interest

Total Payable

How to Calculate EMI using EMI Calculator?

The EMI calculator formula uses three variables – principal amount, rate of interest, and loan tenure, to calculate the amount of EMI.

When the value of each parameter is entered in the EMI calculator formula E = P x r x ( 1 + r )n / ( ( 1 + r )n - 1 ), the resultant EMI value is generated. The task is done best using an EMI calculator online.

Set the value for P i.e. the value of the loan you wish to avail
Set the value of r i.e. the rate of interest offered by the lender
Set the value for n i.e. the duration of the loan in months