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EMI Calculator
Calculate your loan EMI and total interest cost
₹
% p.a.
Years
Monthly EMI
₹21,247
Total Interest
₹2,74,823
Total Amount
₹12,74,823
Payment Breakup
Principal: 78.4% Interest: 21.6%
Understanding Loan EMI
EMI (Equated Monthly Installment) is a fixed amount paid by the borrower to the lender on a specified date each month. EMI consists of both principal and interest components.
Key Components of EMI:
- Principal amount (loan amount)
- Interest rate (annual)
- Loan tenure (repayment period)
- Processing fees and other charges
- Prepayment options and charges
Types of Loans:
- Home Loan: Lower interest rates, longer tenure
- Car Loan: Medium interest rates, 3-7 years tenure
- Personal Loan: Higher interest rates, shorter tenure
- Education Loan: Special rates, moratorium period
- Business Loan: Varies based on business type
Example Calculation:
Loan amount of ₹10,00,000 for 5 years at 10% interest rate:
- Monthly EMI: ₹21,247
- Total Interest: ₹2,74,820
- Total Amount: ₹12,74,820
Important Note:
The actual EMI amount may vary based on the lender's terms and conditions, processing fees, and other charges. Please read all loan documents carefully before signing.