What it means
An EMI is a fixed monthly payment commonly used for loans. The payment combines principal repayment and interest.
Formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
Example
P is principal, r is the monthly interest rate and n is the number of monthly payments.
Use the calculator
Use CalcNexa to perform the calculation with your own values.
Open EMI Calculator →