EMI Calculator: Plan Your Home Loan in 2026

What is EMI?

Equated Monthly Installment (EMI) is the fixed monthly payment you make to repay a loan. It includes both principal and interest components.

EMI Formula

The mathematical formula for calculating EMI is:

EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)

Where:
P = Principal loan amount
r = Monthly interest rate (annual rate / 12 / 100)
n = Number of monthly installments

Using Our EMI Calculator

Our EMI calculator helps you plan your loan by showing:

• Monthly EMI amount
• Total interest payable
• Total payment (principal + interest)
• Visual pie chart breakdown
• Complete amortization schedule

Tips for Lower EMI

• Make a higher down payment
• Choose a longer tenure (but you'll pay more interest)
• Compare interest rates from different banks
• Consider part-prepayment when possible