How to Calculate Loan EMI Easily in India
Finance Toolkit Team
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay each month to repay your loan (principal + interest).
EMI Formula
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
- P = Loan amount
- R = Rate of interest (monthly)
- N = Loan tenure (months)
Example
If you take a loan of ā¹5,00,000 at 10% interest for 5 years:
- EMI ā ā¹10,624
š Instead of manual math, try our Loan EMI Calculator to get quick results.