Home Loan EMI Calculator
How Home Loan EMI is Calculated?
EMI = [P × r × (1 + r)n] / [(1 + r)n - 1]
Where:
P = Loan Amount
r = Monthly Interest Rate
n = Number of Months
Payable Amount = EMI × n
Total Interest = Payable Amount - Loan Amount
EMI = [P × r × (1 + r)n] / [(1 + r)n - 1]
Where:
P = Loan Amount
r = Monthly Interest Rate
n = Number of Months
Payable Amount = EMI × n
Total Interest = Payable Amount - Loan Amount