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EMI Calculator

Calculate the EMI that you will be required to pay for your loan

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  • Equated monthly installment commonly known as EMI is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
  • Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
  • EMI is applicable for Term Loans only.
  • The EMI facility helps the borrower to plan the total loan amount that he should avail from the Bank or lender.
  • The EMI is calculated taking into account the loan amount, tenure for repaying the loan and the interest rate on the borrowed sum.
  • Emi is the fixed amount of money that a borrower needs to pay his bank or lender every month as repayment of a loan taken, until the loan is totally repaid.
  • Usually a borrower uses Post dated cheques or ECS as a medium of payment to the Bank for the EMI.
  • Bank or lender gives an option of 2-3 dates to make the EMI payment to the borrower. But once the date is decided between Bank/lender and the borrower, EMI has to be made on the same fixed date every month.