EMI Calculator
Calculate EMI
EMI:
Calculate Interest Rate
Interest Rate: %
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Calculation
Meaning of EMI
EMI stands for Equated Monthly Installment. It’s a fixed amount of money paid each month to a lender to repay a loan. EMIs are a common way to repay loans like home loans, car loans, and personal loans, bikes loan , bank loan , phone emi etc.
How to work EMI
- The EMI is made up of the principal amount and interest
- The EMI amount remains the same throughout the loan term
- In the beginning, the EMI is mostly interest, but as the loan matures, the principal portion increases
- Lenders use the reducing balance method to calculate interest
How to use EMI
Our EMI Calculator is easy to use, intuitive to understand and is quick to perform to any devices. You can calculate EMI for Bajaj finance loan, car loan, bike loan, bank loan or any kind of loan using this calculator.
Enter the following information in the EMI Calculator as :-
- Principal loan amount you wish to avail (rupees)
- Loan term (months or years)
- Rate of interest (percentage)