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About EMI Calculator
An EMI (Equated Monthly Installment) is the fixed payment you make every month to repay a loan. This free EMI Calculator helps you compute your monthly EMI, total interest payable, and total payment amount. Just enter your loan amount, interest rate, and tenure.
FAQs
Q: How is EMI calculated?
A: EMI is calculated using the formula: EMI = [P × r × (1+r)^n] ÷ [(1+r)^n – 1]
where P = loan amount, r = monthly interest rate, n = tenure in months.
Q: Does this calculator work for all loans?
A: Yes, you can use it for personal loans, car loans, home loans, and more.