Loading…
Loading…
Estimate your Equated Monthly Installments (EMI) for home loans, car loans, or personal loans with our easy-to-use interest calculator.
Everything you need to know about EMI Calculator
EMI is calculated using the formula: [P x R x (1+R)^N] / [(1+R)^N-1], where P is Principal, R is Rate, and N is Tenure.
Yes, prepaying the principal amount reduces the interest burden and the remaining tenure of the loan.
Adding a small amount to your EMI can significantly reduce tenure.
EMI values are estimated for reducing balance method. Actual bank rates may vary slightly based on processing fees and tax on interest.