EMI Calculator
Your EMIs will be come out to ₹0 /month
EMI Payable 
Your monthly fixed installment towards the loan repayment. ₹
Total Interest Total amount of interest to be paid over the duration of your loan. It's calculated based on the loan amount, loan term, and interest rate. ₹
Payable Amount Total amount needed to repay the entire loan amount during the tenure. This includes the principal amount, interest charges, and any additional fees. ₹
| Month | EMI | Principal | Interest | Balance |
|---|
Considering taking a loan? An EMI Calculator will tell you (in pinch) the amount of money you are required to pay monthly, and therefore control your money more effectively as well as lending prudently.
What is EMI Calculator?
An EMI Calculator is a simple online calculator to check how much you have to pay every month in case of a loan. It applies such information as a loan amount, interest rate, and loan period to indicate your payment plan to you. It does not matter whether you need a home loan, a car loan, a personal loan or an education loan, with the EMI Calculator, figuring out how much to pay is simple without fancy mathematical calculations, and you can make intelligent decisions when borrowing.
How Can EMI Calculator Help You?
An EMI calculator is very useful to do instant calculations of your loan repayment and make your loan procedure transparent. It will automatically calcualte your principal and interest constituent and this saves you the time to do it manually and avoid your calculation error but also gives you a better choice to do your finances better.
How the EMI Calculator Formula Works Simply
The EMI Calculator’s formula is based on reducing balance interest calculations, as given below:
EMI = [P * r * (1 + r)^n]
[(1 + r)^n – 1]
Where,
n = Loan tenure in months
EMI = Equated Monthly Instalment
P = Loan principal amount
r = Monthly interest rate (annual interest rate divided by 12)
How To Use EMI Calculator?
You can easily figure out your personal loan EMI by following these simple steps.
Start by entering the Loan Amount – that’s the sum you wish to borrow.
Next, specify the Repayment Tenure – how many months you’ll take to pay it back.
Then, apply the Interest Rate – this is the rate that will be charged on your loan.
Finally, check out the EMI Breakdown – this will give you a clear view of your monthly installment details.
Types Of EMI Calculators
Different types of EMI calculators depend on the type of loan you wish to take. All these calculators will give you an idea of your monthly payments so you can see closer what your possible payments will be at the end of the loan. Below is a brief description:
Home Loan EMI Calculator
Home loans are traditionally high amounts granted for a long period. This EMI calculator will give you an estimate of your monthly payment, based on the loan amount, interest rate, and loan term, while allowing you to plan your future home purchase and not affecting your personal finances too much.
Car Loan EMI Calculator
If you are looking to buy a vehicle, this EMI calculator will outline what your monthly payment could be (based on loan amount and interest) before you actually submit a loan application. Understanding what your loan payments can be enables you to be financially prepared when it comes to repayment and reduces the potential risk of missing payments!
Personal Loan EMI Calculator
If you want to borrow money for vacations, an emergency, a wedding reception/buying/moving into property etc, a personal loan can help you finance these types of additional costs. By using the personal loan EMI calculator, you can easily calculate your monthly repayments, and make intelligent decisions about borrowing.
Education Loan EMI Calculator
If you are an individual looking to further your education, studying can be very costly! This EMI calculator gives you a better idea of your future repayment payments, as you will not need to begin payments until after your course is finished.
Loan Against Property EMI Calculator
If you own property, you can obtain a sizable loan against it. This calculator shows you what your monthly repayments will look like, so that you can use your property appropriately, without excess financial stress.
