and instant results, our EMI Calculator is easy to use, intuitive to understand and is quick to perform. You can calculate EMI for home loan, auto loan, particular loan, education loan
or any other completely amortizing loan using this calculator.
Enter the following information in the EMI Calculator
star loan quantum you wish to mileage( rupees)
Loan term( months or times)
Rate of interest( chance)
EMI in advance OR EMI in arrears( for auto loan only)
Use the slider to acclimate the values in the EMI calculatorform.However, you can class the values directly in the applicable boxes handed over, If you need to enter more precise values. As soon as the values are changed using the slider( or hit the’ tab’ key after entering the values directly in the input fields), EMI calculator willre-calculate your yearly payment( EMI) quantum.
A pie map depicting the break- up of total payment( i.e., total topvs. total interest outstanding) is also displayed. It displays the chance of total interest versus top quantum in the sum aggregate of all payments made against the loan. The payment schedule table showing payments made every month/ time for the entire loan duration is displayed along with a map showing interest and top factors paid each time. A portion of each payment is for the interest while the remaining quantum is applied towards the top balance. During original loan period, a large portion of each payment is devoted to interest. With passage of time, larger portions pay down the star. The payment schedule also shows the intermediate outstanding balance for each time which will be carried over to the coming time.
Prepayments.However, use our loan calculator, If you wish to calculate how important loan you can go OR determine announced vs factual loan interest rate( along with loan APR) on a purchase.
Floating Rate EMI computation
We suggest that you calculate floating variable rate EMI by taking into consideration two contrary scripts, i.e., auspicious( deflationary) and pessimistic( inflationary) script. Loan quantum and loan term, two factors needed to calculate the EMI are under your control; i.e., you’re going to decide how important loan you have to adopt and how long your loan term should be. But interest rate is decided by the banks & HFCs grounded on rates and programs set by RBI. As a borrower, you should consider the two extreme possibilities of increase and drop in the rate of interest and calculate your EMI under these two conditions. similar computation will help you decide how important EMI is affordable, how long your loan term should be and how important you should adopt.
Auspicious( deflationary) script Assume that the rate of interest comes down by 1- 3 from the present rate. Consider this situation and calculate your EMI. In this situation, your EMI’ll come down or you may conclude to dock the loan term. Ex If you mileage home loan to buy a house as an investment, also auspicious script enables you to compare this with other investment openings.