An EMI (Equated Monthly Installment) Calculator is a financial tool that helps you calculate the monthly payment amount for loans. It considers the loan amount, interest rate, and tenure to determine your fixed monthly payment.

EMI Formula:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]

Where:
• P = Principal loan amount
• r = Monthly interest rate (Annual rate ÷ 12)
• n = Number of monthly installments

• Loan Amount: Higher loan amount = Higher EMI
• Interest Rate: Higher rate = Higher EMI
• Loan Tenure: Longer tenure = Lower EMI (but higher total interest)
• Processing Fees: May be added to principal amount