Tool EMI Calculator (Loan)

Calculate Equated Monthly Instalment (EMI), total interest and loan repayment

How is it calculated

EMI (Equated Monthly Instalment) formula:

EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ - 1]
  • P = Loan amount (£)
  • r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
  • n = Total number of instalments (in months)