Finance Tips
Tips to Reduce Your Loan EMIs and Save Money on Interest
Loans are a great financial tool when you need immediate funds for big-ticket...
Read MoreEMI Calculator
100000
60
Monthly EMI:
0.00
Total Interest Payable:
0.00
Total Payment:
0.00
Prepayment
Comparison
Repayment Schedule
| Period | Principal (₹) | Interest (₹) | Balance (₹) | Total Paid (₹) | Progress (%) |
|---|
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Simple Steps to Calculate Your EMI
1
Enter Loan Details
Input the loan amount, interest rate, and tenure.
2
Adjust Parameters
Use sliders to fine-tune values.
3
Click 'Calculate'
Instantly view your EMI, total interest, and payment breakdown.
4
Analyze Results
Check the repayment schedule and visual charts for better clarity.
5
Download & Share
Save the results as a PDF or share them with others.
Your Comprehensive Guide to Understanding Personal Loan EMIs
What is EMI?
Equated Monthly Installment (EMI) is the fixed payment you make each month towards your loan.
How is EMI Calculated?
EMI depends on three factors: Loan Amount, Interest Rate, and Tenure.
Principal vs. Interest
EMI consists of two parts – principal repayment and interest charges.
Reducing Balance Method
Most personal loans use this method for interest calculation.
Example Calculation
- Loan Amount: ₹5,00,000
- Interest Rate: 12% p.a.
- Tenure: 5 years
- Monthly EMI: ₹11,122
Benefits of Using an EMI Calculator
- Plan your budget effectively
- Compare different loan offers
- Understand the impact of tenure and prepayments
Top Tips to Manage Your Personal Loan Effectively
Borrow Wisely
Only take a loan amount you can comfortably repay.
Compare Interest Rates
Check offers from multiple banks and NBFCs.
Maintain a Good Credit Score
A high credit score ensures lower interest rates.
Opt for Prepayments
Reduce your loan tenure and save on interest.
Avoid Late Payments
Prevent penalties and a negative impact on your credit score.
Frequently Asked Questions About Personal Loan EMI Calculator
What is an EMI Calculator?
An EMI Calculator helps you determine your monthly loan repayment amount based on the loan amount, interest rate, and tenure.
Is this calculator free to use?
Yes, our Personal Loan EMI Calculator is 100% free and accessible to everyone.
Can I calculate EMI for multiple loans?
Absolutely! Use the tool to compare EMIs for different loan amounts and interest rates.
Does this calculator support prepayment calculations?
Yes, you can include a prepayment option to see its impact on your loan.
How accurate are the results?
The calculator uses industry-standard formulas, ensuring reliable and accurate results.
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