### What Is EMI Loan?

EMI stands for Equated Monthly Installment . An Equated monthly Installment (EMI) is the amount that a loan borrower pays every month in order to repay the money borrowed . Calculating
EMI using the online calculator is easy and you get to know your loan EMI in few seconds . Calculate EMI by using following formula -:

** EMI = L * i * [( 1 + i )**^{T}] / [( 1 + i )^{T} - 1]

Where

EMI = Equated Monthly Installment

L = Loan Amount

i = Monthly Interest Rate in decimal form

T = Loan Tenure

### How to use EMI Loan Calculator?

Step by step procedure for EMI Loan Calculator is as follows.

**Step 1: **Input appropriate value .

**Step 2: **Now click on "Calculate" button to get result.

You will get Equated Monthly Installment (EMI) as per your value input.