EMI Calculator
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount paid by a borrower every month to repay a loan.
The EMI includes both the loan principal and the interest charged by the lender.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
- P = Loan amount
- r = Monthly interest rate
- n = Loan tenure in months
Using an EMI calculator helps borrowers estimate monthly payments before applying for a loan.
How EMI is Calculated
EMI is calculated using the standard formula based on loan amount, interest rate, and loan tenure.
Disclaimer: This EMI calculator is for informational purposes only. Actual loan EMI may vary based on lender policies and additional charges.
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