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Calculate Your Loan EMI Online with EMI Calculator



Whether a person applies for a home loan, personal loan or car loan, he/she has to pay an Equated Monthly Installment. Soon after a person chooses to apply for a loan, he/she needs to research on the types of loans available in the market. Today, banks and NBFCs offer all types of loans in the market.

As you take advance cash from the financial institutions to purchase a dream home or car, it is evident that you have to pay back the borrowed money. Further, you also need to pay the interest along with the principal loan amount. The loan is paid back in EMIs and the EMI calculator makes it easy for the applicant to calculate the monthly installments.

EMI is the fixed monthly installment paid for the loan availed on a fixed time period including interest component for the period and a contribution towards the principal loan amount. EMIs depend on various factors and three important are the rate of interest, the loan amount, and the tenure of the loan.

Types of EMI Calculators
There are numerous types of EMI calculators available for the evaluation of different kinds of loans:
  • Home Loan
  • Unsecured Business Loan
  • Personal Loan
  • Loan against Property
  • Loan against Shares
  • Machinery Loan
  • SME/MSME Loan
  • Loan for Working Professionals
How to Calculate EMI?

To calculate the EMI, you will need three variables such as the loan period, the interest rate, and the present value. The interest rate is taken as a monthly rate as installments are paid on a monthly basis. For instance, if the rate of interest is 10% then, you have to divide it by 12. Also, the tenure is supposed to be the number of months. So, if the period for loan tenure is 20 years then, the tenure is supposed to be 20x12 = 240 months. As per the calculation, the EMI on a loan of Rs 50 Lakh at 10 per cent interest rate with a time period of 20 years will be Rs 48,251.

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