What is EMI?

Equated Monthly Instalment (EMI) is the amount paid by borrowers each month to lender of the loan. EMI can be calculated for a car loan, home loan, personal loan, gold loan etc. The principal amount borrowed and the interest are added and then divided by the number of months, an individual desires to pay the total amount. The installments thus derived are called EMIs.

Equated Monthly Instalment (EMI) Calculator