EMI Calculator
It is a financial online tool which shows the exact amount to be paid at specified date of every month till the entire loan is paid with interest. With the help of EMI calculator, Borrowers get most vital information about their forthcoming monthly outflow as a repayment of the entire loan amount while applying for a loan. It also helps the borrower as to how much loan amount would be feasible for him in terms of making repayment of loan to the lender. EMI calculator helps borrowers to easily understand and financially comfortable in making repayment of loans.
How EMI Calculator Works ?
Enter the Home Loan amount which you wish to borrow. For better financial planning, monthly Home loan EMI should not be more than 40% of your monthly income.
This is the Interest rate that is charged on the money borrowed.
Select the period for which you wish to take the Home Loan. Generally Home loan tenures are upto 20 years.
Where E is EMI, P is Principal Loan Amount, r is rate of interest & n is for loan tenure