EMI Calculator
Plan your finances with precision. Calculate EMIs for Home, Personal, or Business loans instantly.
₹
₹10K₹1Cr
%
1%30%
1 Mo360 Mos
Monthly Payment
ESTIMATED EMI₹20,301
per month
Breakdown
Principal
₹1,00,000Interest
₹1,505Total Amount₹1,01,505
What is a Loan EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay back to the bank each month until your loan is fully repaid. Think of it as a subscription fee for borrowed money, combined with a portion of the repayment.
Every EMI consists of two parts:
- Principal Repayment: A portion of the actual money you borrowed.
- Interest Component: The cost charged by the bank for lending you the money.
Factors That Impact Your EMI
Loan Amount
Higher loan amount = Higher EMI
Interest Rate
Higher rate = Higher EMI
Loan Tenure
Longer tenure = Lower EMI (but higher total interest)
How to use Loanzaar Calculator
- 1
Enter Amount
Input the total amount you wish to borrow.
- 2
Set Interest Rate
Adjust the slider to the interest rate offered by your bank.
- 3
Choose Tenure
Select how many years or months you need to repay.
Formula Used
E = P x R x (1+R)^N / [(1+R)^N-1]
- P: Principal Loan Amount
- R: Monthly Interest Rate
- N: Tenure in Months
Why check EMI beforehand?
- Plan your monthly budget effectively
- Compare different loan offers
- Choose the right tenure for you
- Avoid financial strain later