What is an EMI Calculator?
An EMI (Equated Monthly Installment) Calculator helps you compute the fixed monthly payment you need to make towards a loan. It considers the loan amount, interest rate, and repayment duration to give accurate results instantly.
Purpose of the EMI Calculator
This tool is ideal for anyone planning to take a loan—whether it's for a house, car, education, or personal needs. It helps in budgeting your finances better by giving a clear breakdown of principal and interest components.
How to Use
1. Select the loan type.
2. Enter the loan amount, annual interest rate, and tenure.
3. Choose whether the tenure is in years or months.
4. Click "Calculate EMI" to view monthly payment and breakdown.
Example
Loan Type: Home Loan
Loan Amount: ₹10,00,000
Interest Rate: 7.5% annually
Tenure: 20 years
➤ Monthly EMI will be approximately ₹8,060
➤ Total Payment: ₹19,34,400
➤ Total Interest: ₹9,34,400
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