🏦 EMI Calculator
Calculate your monthly EMI for home loans, car loans, and personal loans. Also find total interest payable and total payment amount.
Loan EMI Calculator
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Monthly EMI
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Total Interest
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Total Payment
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■ Interest
Compound Interest Calculator
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Maturity Amount
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Interest Earned
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Total Growth
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly payment made to repay a loan. It includes both principal and interest components, calculated so the loan is fully repaid by the end of the tenure.
What is the EMI for ₹10 lakh home loan at 8.5% for 20 years?
The EMI for a ₹10 lakh (₹10,00,000) home loan at 8.5% annual interest for 20 years is approximately ₹8,678 per month. Total interest payable is about ₹10.83 lakhs over the full tenure.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P = principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = number of months.
How does reducing balance affect EMI?
In reducing balance method (used by most banks), interest is calculated on the outstanding principal each month. As you pay EMIs, the principal reduces, so you pay less interest over time compared to flat rate loans.