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An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full. Our calculator helps you instantly determine this amount based on your loan principal, interest rate, and tenure. This allows you to make informed financial decisions before taking on a new loan.