Loan EMI Calculator

An EMI (Equated Monthly Installment) is a specified amount of money to be paid by the loan borrower to the lender on monthly basis. The EMI depends on the interest rate, loan repayment tenure, and loan amount. EMIs are scheduled at a particular date of every month.

It is essential to calculate your EMI before applying for a personal loan. While you can do so manually, using a Personal loan calculator can help you determine the more accurate value. You can select the required loan amount, tenure and rate of interest to get the exact payable EMI amount with an interactive chart.

EMI may affect your monthly expenses until the entire loan repayment is done. Some simple steps that can help you reduce the personal loan EMI and manage outlays easily are:

• Option for a longer repayment tenor - It will help you spread the loan cost over a longer duration and help you pay in small installments.
• Negotiate with the loan provider for a lower rate of interest.
• You can choose a higher down payment for the rest of the loan amount to decrease.
• Opt for the step-down EMI.
• Change the lender if you get a loan offer with lesser EMI.
• Maintain a strong CIBIL score to enjoy lower interest rates and reduced EMI.
• Become a Nowofloan.com Member for the best deals as per your needs and repaying capacity.

• Loan Amount - Monthly installments payable are directly proportional to the loan amount opted for. The higher the loan amount the higher will be your EMI.
• Applicable Rate of Interest - The interest rate is a percentage at which lenders charge interest on the loan amount. A higher interest rate increases the EMIs.
• Loan Repayment Tenure - It's the repayment period for the personal loan availed. A longer tenure reduces monthly installments while a shorter one increases it.

An EMI (Equated Monthly Installment) is a specified amount of money to be paid by the loan borrower to the lender on monthly basis. The EMI depends on the interest rate, loan repayment tenure, and loan amount. EMIs are scheduled at a particular date of every month.

It is essential to calculate your EMI before applying for a business loan. While you can do so manually, using a Business loan calculator can help you determine the more accurate value. You can select the required loan amount, tenure and rate of interest to get the exact payable EMI amount with an interactive chart.

EMI may affect your monthly expenses until the entire loan repayment is done. Some simple steps that can help you reduce the business loan EMI and manage outlays easily are:

• Option for a longer repayment tenor - It will help you spread the loan cost over a longer duration and help you pay in small installments.
• Negotiate with the loan provider for a lower rate of interest.
• You can choose a higher down payment for the rest of the loan amount to decrease.
• Opt for the step-down EMI.
• Change the lender if you get a loan offer with lesser EMI.
• Maintain a strong CIBIL score to enjoy lower interest rates and reduced EMI.
• Become a Nowofloan.com Member for the best deals as per your needs and repaying capacity.

• Loan Amount - Monthly installments payable are directly proportional to the loan amount opted for. The higher the loan amount the higher will be your EMI.
• Applicable Rate of Interest - The interest rate is a percentage at which lenders charge interest on the loan amount. A higher interest rate increases the EMIs.
• Loan Repayment Tenure - It's the repayment period for the business loan availed. A longer tenure reduces monthly installments while a shorter one increases it.