EMI Calculator
What is an EMI Calculator?
An EMI Calculator is an online tool that helps you compute your Equated Monthly Installment (EMI)—the fixed amount you pay every month to repay your loan. Just enter:
- Loan Amount (Principal)
- Interest Rate (Annual)
- Loan Tenure (in months or years)
- Your monthly EMI
- Total interest payable over the loan
- Total payment (principal plus interest)
How does the EMI Calculator work?
The EMI is calculated using this standard formula:
Where:
- P = Principal (loan amount)
- R = Monthly interest rate (Annual rate divided by 12 and by 100)
- N = Number of monthly installments (tenure in months)
For example, for a ₹2,00,000 loan at 10% annual rate for 2 years
- P = 2,00,000
- R = 10/12/100 = 0.00833
- N = 24
How to Use the EMI Calculator
- Enter the Loan Amount: The principal amount you plan to borrow.
- Input the Interest Rate: Annual percentage rate as specified by your bank.
- Set the Tenure: The repayment period in months or years.
- Click ‘Calculate EMI’: Instantly see your monthly EMI, total interest, and total payment.
By using this tool you can solve your queries like EMI Calculator online, Loan EMI calculation, Personal loan EMI calculator, Home loan EMI calculator, How to calculate EMI, EMI repayment schedule, EMI calculator for Blogger, Calculate monthly loan payments, Car loan EMI tool.
FAQs
Q: What loans can I calculate EMIs for?
A: Home loans, car loans, personal loans, gold loans, education loans—any fixed-rate loan with interest.
Q: Can I compare different scenarios?
A: Absolutely! Change the loan amount, interest rate or tenure to see how your EMI changes in real time.
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