Calculate your monthly EMI for any loan
EMI (Equated Monthly Instalment) is the fixed amount you pay each month towards repaying a loan. It includes both principal repayment and interest. The EMI remains constant throughout the loan tenure.
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 monthly instalments.