EMI Result

Loan Amount: ` 1,00,00,000
Rate of Interest: 11%
Tenure: 240 months
EMI: `

How is EMI calculated?

EMI are used to pay off both interest & principal each month. It is calculated on the following parameters:

  • Amount of loan.
  • The time period for which the loan is taken (Tenure of loan).
  • Rate of interest.

EMIs can be reduced by increasing the time period, but this will come at a cost of more interest to the bank and liability for a larger duration.

To know the individual component you can use the Loan Amortization calculator.