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Personal Loan EMI calculator

Loan AmountINR
TenorMonths
Rate of InterestPercent

Total Interest Payable

Rs. 10,15,990

Total Payment (Principle + Interest)

Rs. 50,51,552

Your EMI will be per month

Rs. 66,429

Total Payment Breakup

 

Total Interest

Rs. 10,15,990

Principle Amount

Rs. 50,51,552

Total Payment (Principle + Interest)

Rs. 50,51,552

Repayment Schedule

  • Enrolment Number
  • Month
  • Principal Outstanding
  • Interest Component
  • Principal Component
  • EMI Amount
 

What is an EMI calculator?

An EMI calculator is a type of calculator which helps you calculate your monthly installments for repayment of your loan.

What is an EMI?

EMI stands for Equated Monthly Installment. It is the total amount payable every month until the loan has been fully repaid. EMI consists of two components - the principal amount and the interest amount to be paid on the loan.

How does an EMI calculator work?

An EMI calculator works on three main criteria – loan amount, tenor and the rate of interest. The EMI calculator formula is: E = P * r * (1+r)^n / ((1+r)^n-1), where E is EMI, P is the principal loan amount, r is the rate of interest calculated on a monthly basis, and n is the tenor/duration of the loan.

How to use an EMI calculator?

An EMI calculator is very easy to use. All you need to do is enter the following information: The loan amount, tenor (in months), and rate of interest. The calculator will use the information provided by you, run it against the EMI calculation formula, and inform you of the EMI amount you will have to pay every month.

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