What Is The Formula For EMI Calculation On a Home Loan?

Yes, you can adjust the principal amount, interest rate, and tenure to compare different scenarios. This helps you understand how changes affect your monthly payments.

EMI=P⋅r⋅(1+r)n(1+r)n−1EMI = \frac{P \cdot r \cdot (1+r)^n}{(1+r)^n - 1}EMI=(1+r)n−1P⋅r⋅(1+r)n​

Where:

• P = Loan amount
• r = Monthly interest rate
• n = Loan tenure in months

This formula determines your fixed monthly repayment amount.