An EMI Calculator helps you plan your loan repayments with ease. Whether you’re applying for a personal loan, home loan, car loan, or business loan, this tool calculates your Equated Monthly Instalment instantly. Simply enter your loan amount, interest rate, and tenure to know your EMI amount and total interest payable. With this quick and accurate tool, you can compare different loan options and choose the one that fits your budget. Save time, make informed financial decisions, and manage your repayments smartly with our easy-to-use EMI Calculator.
At ZestLoans.in, we make loan planning simple. Whether you’re taking a Personal Loan, buying a Dream Home, or a New Car, our online EMI Calculator helps you know your monthly payment in seconds.
Just enter:
- Loan Amount
- Interest Rate
- Loan Tenure (in months or years)
- The tool instantly shows:
- Monthly EMI
- Total Interest Payable
- Total Repayment Amount
Feel free to use our Equipment Finance Calculator
**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Personal Loan EMI Calculation
Personal loans are unsecured loans used for multiple purposes like travel, education, or emergencies.
Example:
- Loan Amount: ₹3,00,000
- Tenure: 3 years
- Interest Rate: 12% p.a.
- EMI: ₹9,958 per month (approx.)
🏠 Home Loan EMI Calculation
Home loans have longer tenures with lower interest rates.
Example:
- Loan Amount: ₹25,00,000
- Tenure: 20 years
- Interest Rate: 8.5% p.a.
- EMI: ₹21,700 per month (approx.)
🚗 Car Loan EMI Calculation
Car loans are secured loans with moderate tenures.
Example:
- Loan Amount: ₹8,00,000
- Tenure: 5 years
- Interest Rate: 9% p.a.
- EMI: ₹16,620 per month (approx.)
📘 Frequently Asked Questions (FAQs)
1. What is an EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay every month to repay your loan, including both principal and interest.
2. How is EMI calculated?
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
P = Loan Amount
R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
N = Loan Tenure in Months
3. Can I prepay or foreclose my loan?
Yes, most lenders allow prepayment or foreclosure, often with minimal or zero charges. Prepaying reduces your total interest burden.
4. What affects my EMI amount?
Loan Amount: Higher amount → higher EMI
Interest Rate: Higher rate → higher EMI
Tenure: Longer tenure → lower EMI but more total interest
5. Can I reduce my EMI amount?
Yes. You can reduce EMI by increasing the tenure, improving your credit score for lower interest rates, or transferring your loan to another lender offering better terms.
6. Is EMI the same every month?
Yes, your EMI usually remains fixed throughout the tenure, unless you opt for a floating interest rate, which may vary with market conditions.
7. Why should I use an EMI calculator?
It helps you plan your budget, compare lenders, and avoid surprises before applying for a loan. You’ll know exactly how much you can afford to borrow.
