Free EMI Calculator » Home, Car & Personal Loan Calculator

With the help of Emi calculator tool, you can calculate loan Emi in a very easy way. Whenever a business loan is taken to increase the business or any other type of loan amount is taken.

So the amount taken as loan has to be repaid within a certain time frame. To repay the loan amount, a part of the amount is paid every month, this is called emi. The EMI of the loan can be calculated with this emi calculator.

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What IS EMI?

EMI i.e. Equated Monthly Installments. It is a fixed amount, which is paid by you to the bank on a fixed date every month. When a person takes a loan from a bank or any lending company, then this EMI is paid to repay that loan.

Since the loan is taken as a large amount. If it is not possible to repay it in one go, then to repay it, there is a facility to repay it in the form of EMI from the bank and the loan company. A certain date is fixed in the month to repay the EMI amount. You can calculate the month in which emi is made with the help of this emi calculator tool.

How to Calculate Loan EMI?

The formula to calculate EMI is as follows:

EMI = [P x R x (1+R) ^N] / [(1+R) ^N-1]

In the above formula

E	EMI.
P	Total loan amount.
R	Monthly interest.
N	Loan tenure / Total time for which the loan is taken..

Consider as an example:

Let x persons take a business loan of $1,000,000 at the rate of 7.5% interest. The total time to repay the loan has been fixed at 8 years. So you have to deposit $13,884/- as EMI every month. That is, when you will deposit the total amount in 8 years, it will be - $1,332,852.

How To Use Emi Calculator?

Using an EMI (Equated Monthly Installment) calculator is a simple process, and it can help you determine how much you need to pay each month towards a loan, such as a home loan, car loan, or personal loan. Here are the steps to use an EMI calculator:

Step 1: First of all you have to select the currency (This is optional.)
Step 2: After this, Enter the loan amount: This is the total amount you are borrowing..
Step 3: Choose your Rate of interest(p.a)
Step 4: Choose your loan tenure

With the help of these steps, you can easily calculate your loan emi, that too for free.

Emi Calculator.

Some of the features of the Emi calculator tool are as follows:

In this, you can select different types of currency with the help of select box. Sorry if you don't have the currency of your country, if you want to add, then contact.
For ease, you can easily increase or decrease the value with the help of slider on Principal Amount, Rate of interest, Loan tenure.
In Return, we have told you with the help of Google chart, with the help of which you can easily know your return and your total interest.

FAQs

What is loan?

Where does the loan go only if there is financial help taken from the bank or any financial institution.

What are the types of loans?

Different types of loans.
1. Home Loan
2. Personal Loan
3. Loan against Insurance Policy
4. Gold Loan
5. Property Loan
6. PPF Loan
7. Car Loan
8. Education Loan
9. Loan against Securities
10. Peer-to-Peer loan (P2P loan)