EMI (Equated Monthly Installment) is the fixed monthly amount you pay towards repaying your loan. It includes both principal and interest components.
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where P = Principal, R = Monthly Interest Rate, N = Tenure in months
For a ₹1,00,000 loan at 10% p.a. for 12 months:
Use our EMI Calculator to get instant estimates for any loan amount.