📆 Monthly Payment / EMI Calculator

What is EMI?

EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay a loan. It includes both the principal and interest components. The EMI stays constant throughout the loan tenure.

EMI Formula

EMI = [P × r × (1+r)^n] ÷ [(1+r)^n − 1]. Where P = loan amount, r = monthly interest rate, n = number of months.

How to Reduce Your EMI

• Make a larger down payment to reduce principal
• Choose a longer tenure (increases total interest but lowers EMI)
• Negotiate a lower interest rate with good credit score
• Transfer loan to a lender offering lower rates (balance transfer)