Loan EMI Calculator
Calculate your monthly payments and visualize your loan breakdown
Loan Details
Adjust the values below to calculate your loan EMI
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%
years
Loan Summary
Monthly Payment
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Total Interest
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Total Payment
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Payoff Date
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Payment Breakdown
Principal Amount
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Total Interest
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Total Payments
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Frequently Asked Questions (FAQ) – Loan EMI Calculator
What is an EMI?
EMI stands for Equated Monthly Installment. It is the fixed payment amount made by a borrower to a lender at a specified date each calendar month.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate, and N is the number of monthly installments.
Can I prepay my loan?
Most lenders allow prepayment of loans, but there may be prepayment charges. Check with your specific lender for their prepayment policies.