What is an EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay every month towards the repayment of a loan. EMIs consist of both the principal and interest components, helping you pay off your loan in a structured and predictable way.

EMIs are common in home loans, car loans, personal loans, and consumer durable loans. Understanding your EMI beforehand allows for better financial planning and loan management.

What is an EMI Calculator?

An EMI Calculator is a user-friendly tool that helps you instantly calculate your monthly loan repayment amount. By entering just a few key inputs—loan amount, interest rate, and tenure—you can know your exact EMI.

Why Use Our EMI Calculator?

• Quickly find out your monthly EMI without any manual math.
• Get precise values based on your loan amount and interest rate.
• Plan your monthly budget more efficiently with accurate numbers.
• Compare different loan offers to choose what fits your needs best.

EMI Calculation Formula

Standard EMI Formula:

EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ – 1]

• P = Loan amount
• r = Monthly interest rate (Annual rate / 12 / 100)
• n = Total number of EMIs (tenure in months)

Example: For a loan of ₹5,00,000 at 10% annual interest for 5 years, the EMI will be ₹10,624 approximately.

How to Use PaisaKawach EMI Calculator?

• Enter your total loan amount.
• Input the applicable annual interest rate.
• Select the loan tenure in months or years.
• Click on the “Calculate” button to see your monthly EMI.

Benefits of Using Our EMI Calculator

• Plan your finances more effectively by knowing your monthly liability.
• Check affordability before taking a loan.
• Compare EMIs for different loan offers easily.
• No cost, no login—free to use as often as you need.

Plan More with PaisaKawach

Besides the EMI calculator, PaisaKawach provides a suite of tools including FD calculators, SIP planners, and loan interest calculators to help you make informed financial choices.