How Loan EMI Is Calculated
The calculator uses the standard reducing-balance formula: EMI = P × R × (1+R)N ÷ ((1+R)N − 1), where P is principal, R is the monthly interest rate and N is the number of monthly instalments. At a zero interest rate, it divides principal equally across the selected months.
How to Use the Estimate
Try different tenures to compare monthly affordability with total interest. A longer tenure can reduce EMI but normally increases total repayment. This result excludes processing fees, taxes, insurance and other lender-specific charges.
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