Total Interest Payable: ₹ 0
Total Payment (Principal + Interest): ₹ 0
Payment Breakdown
What is a Loan EMI calculator?
The Loan EMI calculator is a tool to calculate how much amount a borrower has to pay (Principal + Interest) monthly to repay his or her loan over a specific period. This tool aims to help people who want to take a loan, to get a clear picture of the financial commitment required during the loan tenure.
How to Use a Loan EMI Calculator?
- Input Loan Amount: Enter the total loan amount you wish to borrow.
- Enter the Interest Rate: Provide the annual interest rate applicable to the loan.
- Specify the Loan Tenure: Enter the loan repayment period in years.
- Calculate EMI: Click the calculate button to get the monthly EMI amount.
Benefits of Using a Loan EMI Calculator
Anyone who wants to take a loan from a bank can use a loan EMI calculator to know the future repayment amount, and they can plan their future financial requirements accordingly. You can also compare loans offered by different banks to know which one would be better for you. You can also get an idea about how changes in loan tenure impact the total interest payment.