Use this EMI Calculator to estimate your monthly loan EMI based on loan amount, interest rate, and tenure. This tool helps you plan repayments for home loans, personal loans, car loans, and other fixed-rate loans.
How this EMI calculator works
Enter the loan amount, annual interest rate, and loan tenure. The calculator uses a standard EMI formula to calculate the monthly instalment payable on your loan.
Who should use this EMI calculator?
This EMI calculator is useful for borrowers planning home loans, personal loans, car loans, or any fixed-rate loan. It helps estimate monthly repayment obligations before committing to a loan.
Things to keep in mind before taking a loan
Loan EMIs depend on interest rate, tenure, and repayment structure. Always consider your monthly income, existing obligations, and emergency savings before opting for a loan.
Frequently Asked Questions (FAQs)
What is an EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount a borrower pays every month to repay a loan, which includes both principal and interest.
How is EMI calculated?
EMI is calculated using the loan amount, interest rate, and loan tenure. This calculator uses a standard EMI formula commonly followed by banks and financial institutions.
Can this EMI calculator be used for home loans and personal loans?
Yes, this EMI calculator can be used for home loans, personal loans, car loans, and other fixed-rate loans. The calculation method remains the same across these loan types.
Does this EMI calculator include processing fees?
No, this EMI calculator does not include processing fees, insurance, or other charges. It only calculates EMI based on loan amount, interest rate, and tenure.
Is the EMI shown by this calculator accurate?
The EMI amount shown is indicative and meant for planning purposes. Actual EMI may vary depending on lender policies, interest rate changes, and loan terms.
If you are planning investments instead of loans, you can also explore our SIP Calculator and Lumpsum Calculator.
Disclaimer:
The EMI amounts shown by this calculator are indicative and for educational purposes only. Actual EMIs may vary based on lender terms, interest rate changes, and loan conditions.