Skip to main content

How To Calculate EMI in Simple and Hassle-Free Manner?


How To Calculate EMI?

Equated Monthly Installment or EMI is the amount one is required to pay to the bank or other financial institutions till the time the loan is completely paid off. IT consists of the interest levied on the loan as well as the principal amount.  The sum of the principal amount as well as the interest is divided by the tenure. The resultant figure has to be paid monthly. This is how the EMI is calculated. It must be noted here that interest of the EMI reduces with each payment you make. Though the monthly EMI payment does not alter, the part of principal and interest do change with time. With every consecutive payment, one will be paying more towards the principal amount and less towards the interest.

Personal loan EMI calculator makes it convenient to find out the monthly payment on the loan. Equated monthly installment is an important factor in deciding the loan amount as well as the tenure. With the help of personal loan calculator, you can calculate the payouts immediately and accurately. This helps in planning the loan and its repayment conveniently. To calculate the EMI all you need to do is to enter the loan amount, rate of interest and loan tenure and your EMI will be instantly displayed.

EMI calculator home loan will provide you with an approximate amount for the total monthly installment payments. EMI calculators help you understand the ratio of the principal amount to the interest due. This is based on the effect of tenure and interest rates. EMI calculator also provides a table that will clarify the repayment schedule. Home loan calculator offers a complete break-up of the interest and principal amount.

EMI calculator formula is universal and is applicable to different loans. The difference in EMI value happens because of the three variables which include the loan amount, the loan tenure and the interest rate. EMI payment is directly proportional to the loan amount and the rate of the interest applicable. This means that with the increase in the amount and the rate of interest, the EMI amount on the loan also increases.  However, it must be noted that the EMI is inversely proportional to the tenure of the loan. This means that despite the amount of paid interest increasing with long tenures, the EMI payment decreases if the loan happens to be repaid over a longer duration.



Comments

Post a Comment

Popular posts from this blog

Residential Property for Sale in Gurgaon | 2 BHK Flats in Gurgaon

Gurgaon, known as a millenium city, is located 35 kilometres away from the capital of India Delhi. The residential property in Gurgaon is comes with paradise of urban area and well connected to Delhi metro and having well road connectivity to go other cities. It is the hub of commercial markets with giant corporates and MNC companies which offers jobs and business opportunities . From 1BHK, 2BHK and 3BHK flats for sale to villas, this city has variety of options for residences. Affordable flats for sale in Gurgaon vary as per unit area and floor plans. The property in Gurgaon worths more than gold in bulk as we can say that having property in Gurgaon worths pure diamond. Many popular builders like M3M, DLF, Godrej, Hero Homes etc. are launching their residential projects and make sure to make it affordable with possible amenities. Golf Course extension, Dwarka expressway, Sohna road, New Gurgaon, Nirvana country, sector 70, sector 78 and sector 40 are the prime locations...
Post a Comment
Read more

Godrej South Estate Okhla Residential Project like Heaven on the Earth

Godrej Properties has decided to make its entry into Delhi’s real estate market with its Godrej South Estate Okhla project. A number of reasons can be attributed for the stupendous popularity being enjoyed by the project. Most important of which is its timeless design which is set on a very luxurious theme. Copper finish crown on top of the towers will make the structure look very pretty. The project is also located at a place from where historical sights of the city will be visible. Moreover, Dholpur stone will be used for construction. The project will also have luxurious entrance making the entire structure look hugely appealing. Godrej Okhla has world class amenities like swimming pool, night club, gymnassium, banquet hall, power backup, security system with CCTV cameras, terrace, crown walls and etc. With such fascinating features, it really should not come as a surprise that Godrej South Estate Okhla Delhi Project has gain such huge fan following. Highlighting the ent...
Post a Comment
Read more

Godrej One South Noida Sector 150 - Resort Residences

Godrej properties developed Godrej one south which comprises 2 & 3 BHK apartments. It is located at Noida expressway and easily connected Delhi, Ghaziabad and Greater Noida and also very close to the JP greens which makes it more valuable. There are more allocation open spaces and facilities available to make your lifestyle easy. In the society premises, salons, gym, parks, hospital, market area and shopping malls are available to fulfil your daily needs. It is very close to pari chowk and near to Noida city center metro station. The apartments are prepared of laminated wooden flooring in the master bedroom, anti-skid tiles in balconies and bathrooms and vitrified tiles in remaining area.
Post a Comment
Read more