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EMI Calculator
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EMI questions, answered
EMI uses the reducing balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate and n is the tenure in months. Our calculator does this instantly as you move the sliders.
Yes, but it increases the total interest paid. On a large home loan, stretching the tenure by even 5 years can add several lakh rupees in interest. We help you find the tenure that balances EMI comfort with total cost.
Yes. RBI rules prohibit foreclosure charges on floating rate loans to individuals. Even one or two part prepayments a year can cut years off a long tenure. Ask us for a prepayment strategy when we structure your loan.
It is accurate for the rate and tenure you enter, but the bank's final rate depends on your credit profile. Use this to plan your budget, then check your eligibility for your actual rate.
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