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Loan Tenure

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Calculate EMI Reset

Our Loan EMI Calculator helps you determine the Equated Monthly Installment (EMI) for your loans. EMI is the fixed amount you pay to the lender on a specific date each month until the loan is fully repaid.

How is EMI calculated?

The EMI is calculated using the formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where:

• P is the Principal loan amount
• R is the monthly interest rate (annual rate divided by 12 and then by 100)
• N is the loan tenure in months

How to reduce your loan EMI?

• Opt for a longer loan tenure
• Make a larger down payment
• Look for loans with lower interest rates
• Consider balance transfer to a loan with lower interest

Benefits of prepayment

Making prepayments can significantly reduce your interest burden. Even small prepayments can lead to substantial savings over the loan tenure.