Buying a home in India? The first step is calculating your monthly EMI before approaching a bank. Here's the exact formula and a free calculator to make it instant.
The EMI Formula
$$EMI = P \times \frac{r(1+r)^n}{(1+r)^n - 1}$$
Where:
- P = Principal loan amount
- r = Monthly interest rate
- n = Loan tenure in months
Try the Free Calculator
👉 EMI Loan Calculator India on Global Info Wiki — No Excel needed, works on mobile too.
Example: A ₹50 lakh home loan at 8.5% for 20 years gives EMI of approximately ₹43,391/month.
Know your EMI before you negotiate — it gives you more bargaining power with the bank!
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