EMI Calculator - Calculate Your Loan EMI
Calculate your loan EMI instantly with our free EMI calculator. Plan your loan repayment, compare different loan options, and make informed borrowing decisions.
EMI Calculator
What is EMI?
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMI includes both principal and interest components, allowing you to repay the loan over the loan tenure.
Factors Affecting EMI
- Loan Amount: Higher loan amount means higher EMI
- Interest Rate: Lower interest rate reduces EMI
- Loan Tenure: Longer tenure reduces EMI but increases total interest
- Type of Interest: Fixed or floating rate affects EMI calculation
How to Reduce EMI
- Negotiate for lower interest rates
- Increase loan tenure (but remember total interest increases)
- Make a larger down payment to reduce loan amount
- Compare offers from multiple lenders
- Improve your credit score for better rates