Published 2025-05-10 · 12 min read
Equated Monthly Instalment (EMI) is the fixed amount you pay every month towards a loan. Understanding how this number is calculated puts you in control of your loan. Every regulated lender in India uses the reducing-balance EMI formula: EMI = [P × r × (1+r)^n] / [(1+r)^n − 1]. This guide explains each part of the formula with real examples from Indian banks.
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