Planning to buy your dream home? One of the most important steps is to calculate your monthly EMI (Equated Monthly Installment). Knowing your EMI helps you manage your budget and choose the right loan amount.
EMI stands for Equated Monthly Installment. It is the fixed amount you pay every month to the bank or lender until your loan is fully repaid. It includes both principal and interest components.
The standard formula to calculate EMI is:
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]If you take a loan of ₹50,00,000 at 8% annual interest for 20 years (240 months):
Your EMI will be approximately ₹41,822 per month.
Instead of calculating manually, you can use our free EMI Calculator to get instant results. Simply enter your loan amount, interest rate, and tenure, and the tool will do the math for you.