EMI Calculator
Summary
Monthly EMI ₹0
Principal Amount ₹0
Total Interest Amount ₹0
Total Pay Amount ₹0
Rate of Interest % (p.a) 0 %
Chart
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Investsphere Wealth's EMI (Equated Monthly Installment) calculator is a free financial tool used to calculate the monthly installment amount required to repay a loan, such as a home loan, car loan, or personal loan, over a specified period. Investsphere Wealth's calculators are user-friendly and provide quick and accurate estimates of the monthly EMI based on the input parameters provided.

How to use Investsphere Wealth EMI calculator?
Here's how you can use a lump sum calculator:

Input Parameters:
1. Loan Amount: Enter the principal amount of the loan you wish to borrow.
2. Interest Rate: Input the annual interest rate charged by the lender, expressed as a percentage.
3. Loan Tenure: Specify the duration of the loan in terms of months or years.

Calculation:
The calculator uses the formula for calculating the Equated Monthly Installment (EMI) of a loan.
The formula is:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]

Where:

EMI is the Equated Monthly Installment.
P is the principal loan amount.
r is the monthly interest rate (annual interest rate divided by 12 and expressed as a decimal).
n is the loan tenure in months.