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Principal Amount₹1,00,000
Interest Payable₹-1,00,000
Total Amount payable₹
Apply NowWhat is Loan EMI?
Loan EMI Calculator (Equated Monthly Installment) is the principal, rate and interest you have to pay monthly to the bank as a consideration for their loan. It includes both your principal amount and interest on it. So, it is always wise that you manage your payment enough systematically so that you can keep a good CIBIL Score and also don’t have to pay late payment or other charges.
How is Loan EMI Calculated?
Loan EMI is calculated using the following formula:
Where,
- P stands for the Principal Loan Amount
- R is the rate of interest per month. (annual interest rate/12/100)%
N is the number of monthly installments or Loan tenure
For instance, in case you have borrowed ₹10,00,000 at an annual interest of 10.5% for a period of 10 years then as per EMI calculator per month your EMI will be ₹13,493.
Loan EMI calculation can be difficult to do but with Ruloans loan EMI calculator you can calculate your monthly instalments within seconds.
Types of Loan EMI Calculator
Home Loan EMI Calculator
Using our online home loan emi calculator to find out the amount you need to pay per month towards your loan repayment by entering the Principal Loan Amount, Interest Rate, and Tenure.
Personal Loan EMI Calculator
The simplest tool for understanding the monthly instalment that you will pay based on the loan amount and tenor of your choice is the Personal loan EMI calculator.
Business loan
Exclusively designed for calculations related to business loans in order to help entrepreneurs determine how much they can afford to pay back on their loan.
With the help of Ruloans' easy EMI calculator, you can calculate other types of loans as well, Including Loans Against Property, Car Loans, Education Loans, Gold Loans,, and more, to plan your finances.
Factors that can impact your due amount
Several factors can influence your EMI amount:
- Loan Amount: Higher the loan amount, higher the EMI.
- Interest Rate: The interest rate will directly impact your EMI. If the interest rate is high, you will have to pay a higher amount as your monthly outgoing.
- Please note though that with longer tenures, the loan interest paid by you would be more.
- Prepayment:If you have some funds then you can prepay your loan. Prepayments help in reducing your principal amount which will in-turn reduce your EMI or Loan tenure whichever is feasible to you.
How to Use Ruloans Loan EMI Calculator Online
Using the Ruloans EMI calculator online is simple:
- Enter Loan Details: Input the total amount you wish to borrow.
- Select the Interest Rate: Choose the applicable interest rate for your loan.
- Loan Tenure: Decide on the tenure you wish to repay the loan.
- Select the Interest Rate: You’ll instantly get your EMI amount, along with the complete breakdown of principal and interest payable.
Why Use an EMI Calculator?
Using an EMI calculator before you apply for a loan helps you make an informed decision and ensures you choose the loan amount as per your financial capability without having to face any monetary difficulty in the future. The Loan EMI calculator available on the Ruloans website will help you compare multiple loans, plan your repayments, and step in with confidence on your loan journey!
Ruloans, as India's Leading Loan Distribution Company, offers a diversified range of loan products consisting of Personal Loan, Business Loan, Loans Against Property, Education Loans DSA and many more. With over ₹1,00,000 crores loans disbursed and PAN India presence across 2000+ cities our expert developed Loan EMI Calculator helps you provide with the best options and deals available for the chosen loan product.
Benefits of Using Ruloans EMI Calculator
Financial Planning:
When you know your EMI responsibility, it lets you plan your monthly budget.
Compare Loan Offers:
Compare different loan products and interest rates to find the best deal using the best EMI calculator.
Time-Saving:
Saves you the time and effort of manual calculations.
Features of Our EMI Calculator
User-Friendly Interface
This functionality makes it simple for users to discover and use features even if they are using the device for the first time.
Accurate Calculations
We ensure that the EMIs are calculated using standard formulas and are exact.
Multiple Loan Types
We have various calculators for each loan type.
Quick Results
Get instant calculations without any delays