EMI Calculator

The EMI (Equated Monthly Instalment) calculator helps you calculate how much you need to pay a particular amount every month for the Home loan that you have taken, based on the given interest rate and tenure. Enter the below fields to find your EMI amount.

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FAQ's in EMI Calculator

• 1) What is EMI?

  The meaning of EMI is "Easy Money Installments". Nowadays, this is the common term used frequently by everyone. More often EMI is referred for home loans. An Equated Monthly Installment is a fixed monthly payment made to the lender by the borrower towards repayment of the loan over a period of time.

• 2) What are the two components of EMI?

  It is essentially made up of two parts, the principal amount and the interest on the principal amount divided across each month in the loan tenure. The EMI is always paid up to the bank or lender on a fixed date each month until the total amount due is paid up during the tenure.

• 3) How it is calculated?

  The EMI is calculated taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. EMI amount can be decreased by increasing the tenure of the loan or vice-versa. Or else you can take a lower loan amount as it will reduce the EMI amount.