EMI Calculator: Are you thinking of taking a loan but unsure what will be the EMI share that you will pay each month? Our EMI (Equated Monthly Installment) calculator is the simple solution to this problem.
What is an EMI?
Equated Monthly Instalment is the fixed amount that you pay to your lender on a monthly basis, comprising of repayment of both the principal amount borrowed and interest thereon. Our EMI calculator gives you an answer within a short time and with high accuracy on what your monthly payments will be so that you can compare different loan scenarios.
How to Use the Calculator
- Enter Loan Amount: Write the figure you are borrowing in numbers.
- Enter Interest Rate (% p.a.): State the interest rate per annum in written form and, if appropriate, as a numerical percentage.
- Enter Loan Tenure (in years): State how many years you want the loan for.
- Click “Calculate”: On clicking this, the calculator will immediately display your EMI, total interest payable, and total payment due.
- View Amortization Table: Press “Calculate” to break down in detail each monthly payment which shows the principal and interest parts.
- Start Over: To assess a new situation click “Reset” then enter new values.
Also use our 100% Free Loan Interest Calculator
Benefits of Using Our EMI Calculator
- Accurate Results: Obtain exact computations about your monthly payments.
- Quick Comparison: Easily contrast different loan amounts, interest rates and tenures to find the best option for your budget quickly.
- Financial Planning: Understand your loan repayment duties to plan your finances effectively.
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Disclaimer
Our EMI calculator is just for the purposes of information. On other factors like processing fees and insurance the actual EMI can be different. lender about your loan terms detail for the most accurate information.