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# EMI Calculator

Change Loan Amount, Interest Rate & Tenure for your calculation
 Loan Amount Rs. 20,00,000 Rs. twenty lakh(s). Interest Rate (Reducing) % Per Annum Loan Tenure (in Months) Calculated Monthly EMI Total Amount with Interest Flat Interest Rate PA Flat Interest Rate PM Total Interest Amount Yearly Interest Amount

 Principal + Interest

### How EMI Calculator works or Calculate EMI

Our EMI calculator is easy to use and quick to perform. Use our EMI calculator as a guide before applying for any kind of loan.

What is an EMI Calculator?

EMI calculator lets you know how affordable a loan can be for you. Always use the calculator to get a quick quote on your EMIs. You can calculate any loan emi with this calculator be it home loan, personal loan, car loan, education loan, loan against property, two wheeler loan or gold loan. If the quote is satisfactory, you can apply for the loan directly through Deal4loans.

• Enter the loan amount you wish to avail in the EMI calculator.
• Then enter the loan tenure (months).
• And the rate of interest (reducing).
• Press "calculate".
• Our EMI calculator will tell you just how much your EMI amount comes to.

Along with your EMI you also get:

1. Total amount with interest.
2. Flat interest rate PA / PM.
3. Total interest amount.
4. Yearly interest amount.

If you think the EMI is a bit more than you can afford, you can always re-calculate. This time enter either less loan amount or longer loan tenure in the calculator. You can also continue to re-calculate until our calculator gives you an EMI that you are satisfied with.

Also, remember to compare quotes from different banks. You can do this by entering the loan amount and the rate of interest with the loan tenure of, say bank "A". See how much it amounts to. Then do the same again of bank "B". Whichever suits your needs and fits your wants, apply.

In today’s scenario, banks are coming your way with bouquet of offer for your loan requirements. To have the finest deal from these banks, one should ponder to following points before cracking a deal. Don’t be corrupted by paying high EMIs at low rate of interest

### Formula of Calculation of EMI

The EMI is calculated based on the formula;

EMI= [P X I X (1+I)^N]/[(1+I)^N-1]

Here's some example of loan amount with pre caclulation emi's

Home Loan EMI Calculation Example:

 Loan amount Interest Rate Repayment Period EMI per month 5 Lakh 8.35% 10 Years Rs. 6,159 10 Lakh 8.50% 15 Years Rs. 9,847 15 Lakh 8.60% 20 Years Rs. 13,112 20 Lakh 8.70% 25 Years Rs. 17,610

Personal Loan EMI Calculation Example:

 Loan amount Interest Rate Repayment Period EMI per month 2 Lakh 12.50% 4 Years Rs. 5,316 4 Lakh 14.00% 5 Years Rs. 9,307 5 Lakh 12.00% 6 Years Rs. 9,775 7 Lakh 13.00% 6 Years Rs. 14,052

Car Loan EMI Calculation Example:

 Loan amount Interest Rate Repayment Period EMI per month 4 Lakh 8.65% 3 Years Rs. 12,655 8 Lakh 8.80% 4 Years Rs. 19,832 9 Lakh 9.00% 5 Years Rs. 18,683 13 Lakh 9.25% 7 Years Rs. 21,081

### Other Online Calculator & Tools

Better compare EMIs with same tenure And then with rate of interest

(1) Check your reimbursement power (EMI) : You repay the loan in Equated Monthly Installments (EMI) that consists of principal as well as interest. Since you pay an equal amount every month, these payments are called equal monthly installments. The EMI depends on the amount of the loan, the interest rate and the term of the loan. It is an unequal combination of principal repayment and interest cost every month. In the beginning, bank recovers their interest payments and gradually more of the principal repayment by the end of the loan tenure. EMI amount should range maximum to the 40% of your monthly income. One should consider offers from various banks as it may differ from bank to bank. Your involvement in the process might end up in a win-win situation for you.

(2) Market around (Rate of interest):Today, there are many lenders in the market and every bank is offering loans be it a nationalized bank, private bank or foreign bank. Every bank offers different personal loan rates and home loan rates according to the profile of the customer. So, before finalizing a deal one should consider deals from various banks and then come to a conclusion. Be aware of the fact that some people might mislead you by charging high rate of interest at reducing rate and might inform the same at flat rate of interest. So, its always advisable to check full detail of the banks and do better comparison in respect of EMIs , Tenure and rate of interest and keeping tenure as constant with all the banks will ease your comparison and will result in better analysis, finally leading to a prudent decision.

(3) Tenure:It’s one of the most important factors that one should keep in mind while taking loan. It refers to the no. of years for which the loan has been taken. Longer the tenure, higher will be the interest paid and lower will be amount of EMI to be paid and vice-a-versa. It is one of the parameters which helps in comparing the EMIs from different banks keeping it constant for relationship and easing the judgement.

(4) Loan Disbursal Time: Loan disbursal time is the period in which loan is processed and the customer receives the demand draft from the bank. Disbursal time differs from bank to bank. It is an important factor because there is always a reason behind taking a loan if the opportunity of that objective is lost then it is of no use. So, better ask your bank the Turn Around Time and take the loan considering your urgency or better plan it in advance.

(5) Processing Fee, Administrative Charges & Pre-Payment Charges: When you borrow, your loan carries other charges as well apart from interest that may include Processing Fee which bank charges to process your file and pays to the processing hubs, charges may vary from 1-2% of the loan amount sanctioned by bank. Besides this, there are Pre-Payment Charges also which the loan carries for the Pre-Closure of the Loan. So, it is always advisable to take loan which has no penalty for the pre-closure of loan because it might happen in the long-run you might have enough money to pay your debt and thereby save interest on the same or you can have the opportunity to get your loan tranferred at low rate of interest.

(6) Insurance Facility: Some bank offers insurance facility by charging small amount of premium which is added to the EMI paid for the loan amount and the person is insured for the amount he has taken loan. Just in case something unexpected happens, the assured amount will be given to the bank without burdening the members of the family.

Sample Results
 Year Principal Interest Balance Amount 1 Rs. 31,083 Rs. 208,533 Rs. 1,968,917 2 Rs. 34,509 Rs. 205,107 Rs. 1,934,408 3 Rs. 38,311 Rs. 201,305 Rs. 1,896,097 4 Rs. 42,537 Rs. 197,079 Rs. 1,853,560 5 Rs. 47,221 Rs. 192,395 Rs. 1,806,339 6 Rs. 52,426 Rs. 187,190 Rs. 1,753,913 7 Rs. 58,203 Rs. 181,413 Rs. 1,695,710 8 Rs. 64,618 Rs. 174,998 Rs. 1,631,092 9 Rs. 71,740 Rs. 167,876 Rs. 1,559,352 10 Rs. 79,644 Rs. 159,972 Rs. 1,479,708 11 Rs. 88,422 Rs. 151,194 Rs. 1,391,286 12 Rs. 98,165 Rs. 141,451 Rs. 1,293,121 13 Rs. 108,983 Rs. 130,633 Rs. 1,184,138 14 Rs. 120,994 Rs. 118,622 Rs. 1,063,144 15 Rs. 134,327 Rs. 105,289 Rs. 928,817 16 Rs. 149,132 Rs. 90,484 Rs. 779,685 17 Rs. 165,567 Rs. 74,049 Rs. 614,118 18 Rs. 183,812 Rs. 55,804 Rs. 430,306 19 Rs. 204,069 Rs. 35,547 Rs. 226,237 20 Rs. 226,407 Rs. 13,056 Rs. 0

Personal Loan Rate of Interest
( Last updated on 19 April 2018 )
 Bank Rate of Interest Processing Fee Apply Here Kotak 10.99% - 16.99%- 0.99% - 2.5% APPLY HDFC Bank 10.99%-19.5% Rs 999 for Special offers otherwise 1% - 2.5% APPLY Fullerton India 19.5%-37% 2% APPLY Bajaj Finserv 15%-17% Upto 2% APPLY HDB Financial Services 16%-21% up to 2% APPLY ICICI Bank 11.59%-17.5% 0.50% - 2.25% APPLY Indus Ind Bank 12.99%-17% Up to 50% off * APPLY Citibank 11.49%-16.50% APPLY Capital First 14.00%-22.00% 2.00% APPLY
Home Loan Rate of Interest
( Last updated on 19 April 2018 )
 Bank Rate of Interest Prepayment charges Apply Here LIC Housing 8.35% - 8.80% Nil APPLY HDFC Ltd 8.35% - 8.95% Nil APPLY ICICI Bank 8.35% - 8.80% Nil APPLY

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