An EMI (Equated Monthly Installment) Calculator is a tool that helps you calculate the fixed monthly payment you need to make for a loan. It is commonly used for home loans, car loans, personal loans, and business loans.

Formula for EMI Calculation

EMI is calculated using the formula:

$$EMI = \frac{P \times r \times (1 + r)^n}{(1 + r)^n – 1}$$

EMI=(1+r)n−1P×r×(1+r)n​

Where:

• P = Loan amount (Principal)
• r = Monthly interest rate (Annual Interest Rate / 12 / 100)
• n = Loan tenure in months

How an EMI Calculator Helps

✔️ Quickly estimates your monthly installment.
✔️ Helps you plan your finances.
✔️ Compares different loan options.
✔️ Saves time and effort in manual calculations.

Do you want me to create an EMI Calculator for your website?

Using an EMI Calculator is simple. Here’s how you can do it:

Steps to Use an EMI Calculator

1️⃣ Enter the Loan Amount (Principal – P)

• Input the total amount you want to borrow.

2️⃣ Enter the Interest Rate (Annual – in %)

• Provide the interest rate per year (e.g., 12%).

3️⃣ Enter the Loan Tenure (Duration – in Months/Years)

• Specify how long you want to repay the loan (e.g., 5 years = 60 months).

4️⃣ Click “Calculate EMI”

• The calculator will instantly show the monthly EMI amount you need to pay.

5️⃣ View Additional Details (Optional)

• Some calculators show a breakdown of total interest payable and total repayment amount (Principal + Interest).

Example Calculation

Loan Amount: ₹10,00,000
Interest Rate: 10% per annum
Tenure: 5 years (60 months)

🔹 The EMI would be around ₹21,247 per month.

Would you like me to build a custom EMI calculator for your website?