# EMI Calculator

- for Home Loan, Car Loan & Personal Loan

# EMI Calculator- for Home Loan, Car Loan & Personal Loan

##### Home Loan Amount

##### Interest Rate

##### Loan Tenure

##### Loan Emi

Loading..##### Total Interest Payable

Loading..##### Total Payment (Principal + Interest)

Loading..##### Break-up of total amount

### Schedule showing EMI payments starting from

«

2022

»

Year | Principal (A) | Interest | Total Payment (A + B) | Balance | Loan Paid to Date |
---|

### How to Use an EMI Calculator?

The EMI Calculator at calculatoremi.com is quick, simple to use, and intuitive to grasp, with complete charts, statistical representation, and instant results. Using our calculator, you can determine EMIs for any loan like home, vehicle, personal, education, or any other fully amortized loan.

Fill out the following details in EMI Calculator:

- Your desired principal loan amount (rupees)
- Loan period (months or years)
- Interest rates (percentage)
- EMI in advance OR EMI in arrears (for car loan only)

To adjust the settings in the EMI calculator you may use the slider. Further, type in the values in the pertinent areas provided above to get more accurate values. The EMI calculator will display your monthly payment amount when you update the values using the slider. Alternatively, you can input the figures directly into fields.

A pie chart on the side will show the breakdown of the entire payment consisting total principal and total interest payable. The total of all loan installments depicts the ratio of interest payments to the principal in percentage. A chart also illustrates the interest and principal components to pay annually. Furthermore, the payment schedule table shows payments made every month or year for the loan term. Each payment consists of a section for the principal balance and a portion for the interest.

Moreover, all payments are primarily made up of interest throughout the first loan term. As time goes on, greater parts reduce the main. The repayment plan displays the transferable amount for each year’s intermediate unpaid balance.

Are you looking to make partial prepayments to shorten the term of your mortgage and lower your overall interest expense? Then, utilize our Prepayment EMI Calculator for Home Loans. With our calculator, one can discover the amount of loan they can afford or compare the stated and actual interest rates on loan (along with the loan APR) for a purchase.

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#### Floating Rate EMI Calculation

**Floating EMI:** A floating interest rate suggests that the interest rate is responsive to change every three months. Furthermore, your loan’s interest rate will be tied to the base rate established by the RBI based on a number of economic variables. Thus, your loan’s interest rate will fluctuate along with changes in the base rate.

We recommend you to factor in two opposing situations, i.e., optimistic (deflationary) and pessimistic (inflationary) while calculating floating/variable rate EMI. For example, determine the amount of money you need to borrow and a loan term for it. Loan amount and loan tenure are two factors essential for EMI. However, banks and HFCs take interest rates based on the guidelines set by the RBI. It would be best if you computed your EMI as a borrower. Further, consider the two affecting factors of inflation and a drop in the interest rate. These calculations will assist you in determining your EMI, an ideal loan term, and the appropriate borrowing amount.

**Optimistic (Deflationary) Scenario:** Suppose that the interest rate declines from its current level by 1% to 3%. Calculate your EMI by taking this circumstance into account. As a result, your EMI will decrease in this case. Alternatively, you could reduce the loan’s term. For instance, if you take out a home loan for a property investment, a positive case allows you to contrast this with other investment alternatives.

**Pessimistic (Inflationary) Scenario:** Here, follow the opposite by assuming that interest rates are increased by 1%–3%. Do you think you’ll be able to keep making EMI payments without too much difficulty? Your monthly payment for the duration of the loan could significantly increase with even a 2% increase in the interest rate.

With these calculations, you can smartly plan for potential future events. By taking out a loan, you commit to a certain amount of money for the upcoming months, years, or decades. Therefore, think of the best and worst-case scenarios, and prepare for both. Then make a wise decision.