Free EMI Calculator - Calculate Monthly Installments & Interest
Calculate your monthly EMI payments for any product. Enter product price, installments, and interest rate to get instant results.
How to Use EMI Calculator?
- 1. Enter the product price you want to buy
- 2. Enter the number of installments (months)
- 3. Enter the annual interest rate offered
- 4. Click "Calculate EMI Now" to get your monthly payment
This helps you understand the true cost of buying on installments and compare different payment options.
Frequently Asked Questions About EMI
What is EMI?
EMI (Equated Monthly Installment) is a fixed amount you pay every month to repay a loan or purchase on installments.
How is EMI calculated?
EMI is calculated using the formula: EMI = (P × R × (1+R)^N) / ((1+R)^N - 1), where P is principal, R is monthly interest rate, and N is number of months.
Is this EMI calculator accurate?
Yes, our EMI calculator uses the standard formula and provides accurate results. However, actual EMI may vary based on your bank's terms.