Calculate the Equated Monthly Installment (EMI) for your car loan. Fill up the loan amount, annual interest rate, loan tenure and hit the Calculate button.
- Loan EMI:
The EMI amount you will pay each month
- Total Interest Payable:
The total interest you will pay over the loan tenure
- Total Payment(Principal + Interest):
The total amount you will pay over the tenure of the loan including the principal and the interest
EMI or Equated Monthly Installment is a fixed amount payable by a borrower or lender every month to the bank or any other financial institution until the mortgage or loan amount is fully paid off. Generally, they are paid on a specified date each calendar month. It consists of the interest on mortgage as well as part of the principal amount to be repaid so that over a specified number of years, the loan is paid off in full.
- Apr 22, 2018
- Tool Launched