Calculate the monthly payment (EMI) for any loan in any currency, along with total interest paid and the total amount repaid.
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
No. This shows the pure EMI based on principal, rate and tenure. Lenders may add processing fees, insurance or GST on interest separately.
A shorter tenure means a higher EMI but much less total interest. A longer tenure lowers the EMI but you pay more interest overall.