A Loan EMI calculator helps you ascertain the amount of the EMIs that one needs to pay towards the loan that may be a home loan, car loan, personal loan or business loan and helps make an informed decision. The EMI for a loan is calculated based upon the amount of loan taken, interest rate and the tenure of the loan.
EMI stands for Equated Monthly Installment. EMI is the monthly repayment that borrower is required to make to the lender, which includes a part principal and interest on the outstanding amount last month.