EMI MITRA - SIMPLIFY YOUR LOAN CALCULATIONS
Calculate EMIs for home, car, bike, product, or salary-based loans with ease and accuracy.
Understanding EMI
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal every month so that over a specified number of years, the loan is paid off in full.
The EMI Formula
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
Principal Amount
The initial sum of money borrowed from the lender.
Interest Rate
The annual percentage rate charged on the loan.
Loan Tenure
The duration in months or years to repay the loan.
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Find answers to the most common questions about loan calculations, interest rates, and financial planning.
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month, covering both principal and interest.