This is an estimate for a standard fixed-rate loan. Your bank may add fees or use a slightly different method. This tool does not provide financial advice.
Enter the total loan amount you plan to borrow.
Input the annual interest rate as a percentage value.
Enter the loan term and choose years or months as the unit.
Click Calculate Monthly Payment to see your EMI, total payment, and total interest.
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EMI stands for Equated Monthly Installment. It is calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is monthly interest rate, and n is number of payments.
Yes. Run the calculator with different amounts, rates, and terms to compare EMIs and total interest costs before choosing a loan.
No. It provides a standard amortization estimate. Actual loan costs may vary based on lender-specific fees and terms.