An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Our Loan EMI Calculator helps you determine your monthly EMI outgo. Here's how to use it:

1. Loan Amount: Enter the total principal amount of the loan you wish to take.
2. Interest Rate (% p.a.): Input the annual interest rate charged by the lender.
3. Loan Tenure (Years/Months): Specify the total duration of the loan. You can set this in years or months.

Understanding Your Loan EMI Calculator Results

• Loan EMI: The fixed monthly amount you need to pay.
• Total Interest Payable: The total amount of interest you will pay over the entire loan tenure.
• Total Payment (Principal + Interest): The sum of the principal loan amount and the total interest payable.