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EMI Calculator
Calculate monthly EMI, total interest, and payment for home, car, or personal loans.
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About the EMI Calculator
EMI (Equated Monthly Installment) spreads a loan into fixed monthly payments covering principal and interest. The standard reducing-balance formula uses monthly interest rate and tenure in months.
Use this calculator to compare tenures and rates before you borrow — so you know total interest and monthly cash-flow impact.
How to calculate EMI
- Enter the loan principal.
- Enter the annual interest rate and tenure in years.
- Read monthly EMI, total interest, and total payment.
Frequently asked questions
How is EMI calculated?
EMI = [P × r × (1+r)^n] / [(1+r)^n − 1], where P is principal, r is monthly rate, and n is number of months.
Is this EMI calculator free?
Yes. Unlimited use in your browser on Mytulify — no signup required.