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Need a more accurate EMI estimate?
An EMI Calculator or Equated Monthly Installment Calculator is a tool which calculates your monthly EMI payments for a Home Loan within a few seconds.
To use the Home Loan EMI Calculator, all you need to do is enter the variables like principal amount, interest rate, tenure, etc. in the calculator and it will give you the EMI amount instantly.
It is a free tool available on SuGanta.com 24 X 7. You can use the EMI Calculator to make an informed decision by comparing various loan EMIs before you finalize a Home Loan.
The classic way of calculating the EMI is by using the formula stated below:
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
Let’s take an example to understand this clearly. For instance, you have taken a Home Loan of Rs 2 Lakh which is to be paid in 2 years at an interest rate of 20% per annum.
First, convert the yearly interest rate into months. We can obtain the monthly interest rate by dividing the yearly interest rate by the number of months in a year i.e. 12. So, monthly interest will be 20/12 = 1.66%.
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
EMI = [2,00,000 x 1.66/100 x 24] / [(1+1.66/100)^24 - 1]
EMI = Rs. 10,179
An EMI Calculator or Equated Monthly Installment Calculator is a tool which calculates your monthly EMI payments for a Home Loan within a few seconds.
To use the Home Loan EMI Calculator, all you need to do is enter the variables like principal amount, interest rate, tenure, etc. in the calculator and it will give you the EMI amount instantly.
It is a free tool available on SuGanta.com 24 X 7. You can use the EMI Calculator to make an informed decision by comparing various loan EMIs before you finalize a Home Loan.
The classic way of calculating the EMI is by using the formula stated below:
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
Let’s take an example to understand this clearly. For instance, you have taken a Home Loan of Rs 2 Lakh which is to be paid in 2 years at an interest rate of 20% per annum.
First, convert the yearly interest rate into months. We can obtain the monthly interest rate by dividing the yearly interest rate by the number of months in a year i.e. 12. So, monthly interest will be 20/12 = 1.66%.
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
EMI = [2,00,000 x 1.66/100 x 24] / [(1+1.66/100)^24 - 1]
EMI = Rs. 10,179
An EMI Calculator or Equated Monthly Installment Calculator is a tool which calculates your monthly EMI payments for a Home Loan within a few seconds.
To use the Home Loan EMI Calculator, all you need to do is enter the variables like principal amount, interest rate, tenure, etc. in the calculator and it will give you the EMI amount instantly.
It is a free tool available on SuGanta.com 24 X 7. You can use the EMI Calculator to make an informed decision by comparing various loan EMIs before you finalize a Home Loan.
The classic way of calculating the EMI is by using the formula stated below:
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
Let’s take an example to understand this clearly. For instance, you have taken a Home Loan of Rs 2 Lakh which is to be paid in 2 years at an interest rate of 20% per annum.
First, convert the yearly interest rate into months. We can obtain the monthly interest rate by dividing the yearly interest rate by the number of months in a year i.e. 12. So, monthly interest will be 20/12 = 1.66%.
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
EMI = [2,00,000 x 1.66/100 x 24] / [(1+1.66/100)^24 - 1]
EMI = Rs. 10,179
An EMI Calculator or Equated Monthly Installment Calculator is a tool which calculates your monthly EMI payments for a Home Loan within a few seconds.
To use the Home Loan EMI Calculator, all you need to do is enter the variables like principal amount, interest rate, tenure, etc. in the calculator and it will give you the EMI amount instantly.
It is a free tool available on SuGanta.com 24 X 7. You can use the EMI Calculator to make an informed decision by comparing various loan EMIs before you finalize a Home Loan.
The classic way of calculating the EMI is by using the formula stated below:
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
Let’s take an example to understand this clearly. For instance, you have taken a Home Loan of Rs 2 Lakh which is to be paid in 2 years at an interest rate of 20% per annum.
First, convert the yearly interest rate into months. We can obtain the monthly interest rate by dividing the yearly interest rate by the number of months in a year i.e. 12. So, monthly interest will be 20/12 = 1.66%.
EMI = [P x R x (1+R)^T] / [(1+R)^T - 1]
EMI = [2,00,000 x 1.66/100 x 24] / [(1+1.66/100)^24 - 1]
EMI = Rs. 10,179
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