EMI calculator
Loan Amount
Loan tenure
year
Rate of interest
%
Principal amount
₹ 10,00,000
Total Interest
₹ 1,59,968
Monthly EMI
₹ 19,332
Total Value
₹ 11,59,968
86%
14%
Frequently Asked Questions
How is the EMI amount calculated?
How is the EMI amount calculated?
The EMI is calculated using the formula:
Where
P = Principal loan amount
r = Monthly interest rate
n = Loan tenure in months
This formula helps determine the fixed monthly payment required to repay the loan.
Can the EMI amount change during the loan tenure?
Can the EMI amount change during the loan tenure?
Yes, if your loan has a floating interest rate, your EMI can change based on the market interest rate. With a fixed interest rate, your EMI remains the same throughout the loan period.
Is this EMI calculator adjusted for floating EMI?
Is this EMI calculator adjusted for floating EMI?
No, this EMI calculator is not adjusted for floating EMI.
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