EMI Calculator Tool – How to know your loan EMI?

If you are planning to take a loan or want to find out the monthly EMI of your existing loan, then our EMI Calculator Tool will be very useful for you. This tool will instantly tell you how many EMIs you will have to pay every month, what will be the total interest and what will be the overall payment. It is very easy to use. Come, let's understand how to use it.

How to use EMI Calculator?

First of all, you have to enter the "Loan Amount". This is the same amount that you are going to take as a loan from any bank or financial institution. You can enter it in number format like ₹50,000 or ₹5,00,000.

After that, the option of "Annual Interest Rate (%)" will appear. Here you have to enter the yearly interest rate applicable on your loan. For example, if your loan is at 10% interest rate, then you can enter 10.00 here.

The third field is "Loan Tenure (Months)". Here you have to enter the tenure of your loan i.e. for how many months you want to pay EMI. For example, if your loan is for 5 years, then you can write 60 months here.

After filling all these fields, you have to click on the "Calculate EMI" button. As soon as you press this button, the exact calculation of your loan EMI will appear. This result will be shown in a separate section in which you will get the following details:

Monthly EMI: How much amount you have to pay to the bank or lender every month.

Total Interest Payable: How much interest you have to pay till the entire loan tenure is completed.

Total Payment (Principal + Interest): What will be your total payment (Loan Amount + Interest).

If you want to calculate a new loan, just enter the new numbers and press the "Calculate EMI" button again. This tool gives instant and accurate results that will help you in your loan planning.

This tool comes with a mobile-friendly and responsive design that you can use on any device be it your smartphone or desktop. If you want to get an exact estimate of your loan EMI, our EMI Calculator is the perfect solution for you!