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EMI Calculator | Loan EMI Calculator Online

Loan EMI Calculator

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What is EMI?

EMI Meaning

EMI stands for Equated Monthly Installment. It is the fixed monthly payment made by a borrower to repay a loan over a specific period.

Why Use an EMI Calculator?

An EMI calculator helps borrowers estimate their monthly loan payments and plan finances before taking a loan.

EMI Formula

EMI = P × r × (1+r)n / ((1+r)n − 1)

P = Loan Amount r = Monthly Interest Rate n = Total Months

Example EMI Calculation

Loan Amount = ₹5,00,000 Interest Rate = 8% Tenure = 5 Years Monthly EMI ≈ ₹10,138