UTILS247

EMI Calculator

Click to easily calculate EMI for a loan amount to know how much EMI you will have to pay for a certain loan Amount. To calculate loan EMI, you will have to enter loan amount, rate and duration for which you will have taken loan.

Fill Principal Rate and Time to get interest and amount

Principal / Loan Amount:
Rate: %
Time:
EMI:
Total Amount Payable:
Total Interest Payable:

EMI Calculation Mathematical Formula

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

P is the principal money for which EMI is being calculated.
R is the percentage by which monthly interest will be paid. So if you are being charged 20 % per annum by your bank. Then this monthly rate is calculated as 20/(12 x 100)
N is the duration in months for which the amount is being borrowed.

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