 Calculators    EMI Calculator

# EMI Calculator

Calculate estimate of your monthly EMI amount and interest paid with our loan EMI calculator online.

Loan Amount
100000
₹ 1,00,000
₹ 1,00,00,000
Rate of Intrest (p.a)
1
1%
30%
Loan Tenure
1
1 yr
30 yrs
Principal Amount
Total Amount
Principal Amount
Total Amount
Principal Amount
1,20,000
Total Amount
1,20,000
Monthly EMI
1,20,000

## What is an EMI Calculator?

EMI stands for Equated Monthly Instalment for the loan you have taken from any bank or a financial institution. The EMI consists of the principal amount of the loan and the interest paid. Simply, EMI = Principal Amount + Interest Paid on the loan. The EMI, usually, remains fixed for the entire tenure of the loan, and it is to be repaid over the tenure on a monthly basis in the form of EMI. Our loan EMI calculator will help you calculate the monthly EMI amount.

## How does an online EMI Calculator work?

Dhan EMI calculator requires you to enter the total loan amount, the rate of interest, and the loan tenure in years - that's it!. The calculator will automatically calculate the total amount paid and the monthly EMI.

P x R x (1+R)^N / [(1+R)^N-1] where,
P = Principal amount of the loan
R = Rate of interest
N = Number of monthly instalments.

The aforesaid variables along with the processing fee are needed to determine your EMI.

For example, if you take a loan of Rs 5,00,000 at a rate of interest of 11% p.a. and the tenure of the loan is 7 years, your EMI will be calculated as under (assuming a 1% processing fee):

The formula for EMI calculations can be used as follows:

EMI = 500000* 0.0091 * (1+ 0.0091)^84 = Rs. 8,561 / [(1+ 0.0091)^84 ]-1

The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 11% per annum, then R= 10/12/100 = 0.0091.

## How to use the Dhan Loan EMI Calculator?

Here are a few easy steps to guide you using the calculator:

• Ensure you have all the related data available to you.
• Enter the variables as mentioned in the formula on their designated slots.
• The total Amount and monthly EMI will be displayed instantly.

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