EMI Calculator
Calculate your monthly loan payments
5,0001,00,00,00,000
0.1200
0.1300
EMI Calculation Results
Monthly EMI:₹0
Principal Amount:₹1,000,000
Total Interest:₹0
Total Amount:₹0
Payment Breakdown
Principal Amount₹1,000,000
Interest Payable₹0
EMI Tips
- • Higher down payment reduces EMI burden
- • Shorter tenure means higher EMI but lower total interest
- • Compare rates from different lenders
- • Consider prepayment to reduce interest
- • EMI should not exceed 40% of monthly income
Understanding EMI
What is EMI?
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off.
Factors Affecting EMI
- • Loan Amount: Higher amount = Higher EMI
- • Interest Rate: Higher rate = Higher EMI
- • Tenure: Longer tenure = Lower EMI
- • Processing Fees: May increase total cost
- • Credit Score: Affects interest rate offered