Calculate your Equated Monthly Installment (EMI) for personal loans, business loans, and mortgages in Kenya. Get detailed amortization schedule and total interest payable.
EMI stands for Equated Monthly Installment. It's the fixed amount you pay every month towards your loan, which includes both principal and interest components.
EMI is calculated using the formula: EMI = P à r à (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.