EMI Calculator (Loan EMI)
EMI calculator: equated monthly instalment for a home, car or personal loan, with total interest and total payment. Works in any currency.
EMI = P · r (1 + r)n(1 + r)n − 1
How to use this calculator
- Choose the quantity you want under “Solve for”.
- Type the known values and pick their units: any combination works.
- The result updates as you type. Open “Show the steps” to see the substitution.
EMI = P·r·(1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n the number of months.
Pick the tenure in months or years.
Estimates for planning only; not financial advice. Your lender’s or provider’s figures may differ.
Formula
EMI = P · r (1 + r)n(1 + r)n − 1
| Symbol | Quantity | Units |
|---|---|---|
| P | Loan amount | $, €, £ |
| i | Annual interest rate | %, × |
| n | Tenure | years, months |
| EMI | Monthly EMI | $, €, £ |
Constants used: r = annual rate / 12 · n = months
Worked example
Given: P = 500,000.00 $ · i = 10.5 % · n = 60 months
EMI = P r (1 + r)n(1 + r)n − 1
Result: EMI = 10,746.95 $
Monthly EMI for different values of Loan amount
| P · Loan amount | EMI · Monthly EMI |
|---|---|
| 250,000.00 $ | 5,373.48 $ |
| 375,000.00 $ | 8,060.21 $ |
| 450,000.00 $ | 9,672.26 $ |
| 500,000.00 $ | 10,746.95 $ |
| 550,000.00 $ | 11,821.65 $ |
| 625,000.00 $ | 13,433.69 $ |
| 750,000.00 $ | 16,120.43 $ |
| 1,000,000.00 $ | 21,493.90 $ |
Other values as in the worked example.
Frequently asked questions
EMI on 5,00,000 at 10.5 % for 5 years?
About 10,746.95 per month; total interest about 1,44,817.
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