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EMI Calculator

Calculate your EMI and choose the most suitable product for you.

Loan Tenure (1 to 30 Years)
Interest Rate (9 to 20%)
Loan EMI ₹ 6,453
₹ 32,308
Total Payment
₹ 232,308

What Factors Can Affect Your Personal Loan EMI?

The personal loan EMI calculator requires the analysis of three factors that are included in the loan process:

Loan Amount

The amount you want to borrow is the primary factor in calculating the personal loan EMI. The higher the loan amount, the higher the EMI to repay at regular intervals. Hence, it is advised that you opt for a loan amount that you specifically need so that the EMI repayment does not create a financial burden.

Loan Tenure

The loan tenure is the most important factor in determining the loan EMI. It is the time you get to repay the personal loan you have taken. The longer the tenure, the lower the EMI amount will be, as it will be stretched over a longer repayment period.

Rate of Interest

Once you have chosen the personal loan amount and the loan tenure, the next factor that affects the EMI calculation is the rate of interest. It is based on your credit score, income, turnover and repayment capability.

FAQs on EMI Calculator

What is a loan EMI calculator?

A loan EMI calculator is a tool that helps you to calculate the monthly installment that you need to pay to repay a loan. You need to enter the loan amount, interest rate, and tenure in the loan EMI calculator, and it will calculate the EMI for you.

How is the EMI calculated for a loan?

The EMI calculation for a loan is based on three factors: the loan amount, the interest rate, and the tenure. The formula for EMI calculation is EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the loan amount, R is the monthly interest rate, and N is the tenure in months.

What are the benefits of using a loan EMI calculator?

Using a loan EMI calculator can help you to plan your finances better. You can calculate the EMI for different loan amounts, interest rates, and tenures and choose the option that best suits your budget. It can also help you to compare different loan options and choose the one that is most affordable.

Can a loan EMI calculator show the total interest payable on a loan?

Yes, a loan EMI calculator can show you the total interest payable on a loan. It can also show you the total amount payable, which includes both the principal amount and the interest.

What factors should I consider while using a loan EMI calculator?

While using a loan EMI calculator, you should consider factors like the loan amount, interest rate, tenure, processing fees, pre-payment charges, and late payment fees. You should also consider your monthly budget and choose the loan option that is most affordable for you.

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