Equal Monthly Installment (EMI) Calculator is an online finance calculator that could calculate EMIs, total interest, and assess affordability, help you to manage loans effectively and make informed decisions and save money.

Enter the amount you wish to borrow along with Manage loans effectively the interest rate and tenure to determine your EMI. Interest rates offered by different banks may vary and you will be able to quickly determine your monthly payment under all scenarios.

In finance, "EMI" typically stands for "Equated Monthly Installment". It refers to a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are commonly used to repay loans, particularly in the context of consumer loans such as home loans, car loans, personal loans, etc.

The EMI consists of both principal repayment and interest payment. Initially, a larger portion of the EMI goes towards paying off the interest, while as the loan progresses, a larger portion goes towards repaying the principal amount borrowed. This structure continues until the loan is fully paid off. EMI calculations depend on factors such as loan amount, interest rate, and loan tenure.