How is my loan EMI calculated?

EMI (Equated Monthly Instalment) = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = principal, R = monthly interest rate, N = number of months. For a ₹50 lakh home loan at 8.5% for 20 years, the EMI is approximately ₹43,500. Online EMI calculators make this instant and accurate.