// by seankriegler.com
EMI Calculator
Calculate Equated Monthly Instalments for any loan
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Monthly EMI
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Total Interest
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Total Payment
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Interest / Principal
// EMI Formula
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal, r = monthly interest rate, n = total months. Higher tenure = lower EMI but more total interest.
// Reduce Interest
Make prepayments when possible, choose shorter tenure if affordable, compare rates across lenders, and maintain a good credit score for better rates.
// Fixed vs Floating
Fixed rate EMI stays constant throughout. Floating rate changes with market conditions — starts lower but carries risk of increase.