EMI Calculator for 5 Years
Calculate EMI for 5-year (60 months) loan tenure. Ideal for car loans, appliances, and medium-term loans.
EMI Calculator
Quick Select Tenure
Monthly EMI
₹20,517
Amount you pay every month
Total Interest
₹2,30,992
Interest paid over the loan period
Total Payment
₹12,30,992
Principal + Interest total
Why Use Our EMI Calculator?
Making informed financial decisions is crucial when taking a loan. Our EMI Calculator helps you understand your loan obligations, compare different loan options, and plan your finances effectively. Whether you're looking to buy a home, car, or need a personal loan, knowing your monthly EMI helps you make better decisions.
Key Features
Accurate Calculations
Get precise EMI calculations using industry-standard mathematical formulas for all types of loans.
Instant Results
Calculate EMI instantly with just a few inputs. No waiting, no complex forms to fill.
100% Private
All calculations happen locally in your browser. Your financial data is never sent to any server.
How to Use the EMI Calculator?
- 1.Enter Loan Amount: Input the total loan amount you plan to borrow in the "Loan Amount" field.
- 2.Set Interest Rate: Enter the annual interest rate offered by your bank or financial institution.
- 3.Choose Loan Tenure: Select the loan tenure in months (e.g., 60 months for a 5-year car loan).
- 4.View Results: The calculator instantly shows your monthly EMI, total interest payable, and total repayment amount.
Typical Loan Types & Interest Rates
| Loan Type | Interest Rate | Typical Tenure |
|---|---|---|
| Home Loan | 6.5% - 9% | 20 years (240 months) |
| Car Loan | 8% - 12% | 5 years (60 months) |
| Personal Loan | 10% - 16% | 3-5 years (36-60 months) |
| Education Loan | 6% - 9% | 10-15 years (120-180 months) |
EMI Formula
The EMI is calculated using the following mathematical formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]
P = Principal Loan Amount
R = Monthly Interest Rate (Annual Rate / 12 / 100)
N = Number of Monthly Installments (Loan Tenure)
Frequently Asked Questions
Benefits of Using EMI Calculator
- ✓Better Financial Planning: Know exactly how much you need to pay every month
- ✓Compare Loan Options: Try different loan amounts, rates, and tenures to find the best option
- ✓Budget Planning: Understand your financial commitment before applying for a loan
- ✓Quick Decisions: Get instant results without waiting for bank officials
- ✓100% Free: Use our calculator unlimited times without any charges
Ready to Calculate Your EMI?
Use our free EMI calculator above to plan your finances better and make informed borrowing decisions.
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