The EMI is calculated on the basis of following factors namely principal amount, interest rate & loan
tenure.
The formula of Home Loan EMI calculation is:
E= [P x R x (1+R)^N]/[(1+R)^ N-1]
Here, E stands for EMI, P stands for principal amount & R stands for rate of interest every month & N
indicates tenure of the loan . The monthly EMI amount is fixed however, with the passage of time, you will
pay less towards interest & more towards principal.
