EMI Calculator
Calculate your loan EMI and view payment schedule
Loan Details
Enter your loan parameters
₹10,00,000
8.5%
20 years
Understanding EMI (Equated Monthly Installment)
EMI is a fixed payment amount that a borrower makes to a lender at a specified date each month. EMIs are used to pay off both the principal and interest on a loan, making it easier to budget loan payments.
Types of Loans Using EMI
- Home Loans
- Car Loans
- Personal Loans
- Education Loans
- Business Loans
Factors Affecting EMI
- Principal loan amount
- Interest rate
- Loan tenure
- Type of interest (fixed or floating)
- Processing fees and other charges
Tips for Managing EMIs
- Choose a comfortable loan tenure
- Compare interest rates from different lenders
- Consider prepayment options
- Maintain a good credit score
- Plan for additional charges and fees