EMI Calculator
Calculate your Equated Monthly Installment for any loan
Monthly EMI
About EMI
EMI (Equated Monthly Installment) is a payment amount made by a borrower to a lender at a specified date each calendar month. The calculator supports reducing balance, flat rate, and floating rate loan comparisons.
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where P = Principal, r = Monthly interest rate, n = Number of months
- Reducing balance: Interest is charged on the outstanding principal.
- Flat rate: Interest is charged on the full principal throughout the tenure.
- Floating rate: EMI can change after the reset point when the rate moves.
EMI Calculator FAQs
How is EMI calculated?
EMI is calculated using the loan amount, interest rate, and total number of months. paisapyara now supports reducing balance, flat rate, and floating rate loan modes.
Does a longer loan tenure reduce EMI?
Yes. A longer tenure usually lowers your monthly EMI, but it also increases the total interest paid over the life of the loan.
Can I use this EMI calculator for home, car, and personal loans?
Yes. You can use the same EMI calculator for most fixed-rate loan comparisons by changing the amount, rate, and tenure.
What is the benefit of the amortization schedule?
The amortization schedule shows how each EMI is split between principal and interest month by month, along with the remaining balance.
What is a flat rate loan?
In a flat rate loan, interest is calculated on the full principal for the entire tenure, so the EMI is usually higher than a reducing balance loan at the same nominal rate.
How does floating rate EMI work?
Floating rate EMI can change when the interest rate resets. This calculator estimates the current EMI and the revised EMI after the reset point you enter.
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