How to use the loan EMI calculator?
Loan Amount – Use the slider to select your Loan amount that you would like to borrow. For Example: ₹ 3,00,000.
You do not need to change this value to calculate Loan EMI. The EMI Calculator will automatically calculate the EMI that would be applicable for a Loan
No. of Months – Use the slider to select the tenure of your loan and calculate your monthly EMI. The EMI value decreases as the tenure of the Loan increases, the EMI Calculator will calculate the varying EMIs applicable for varying tenures in Months.
What is loan EMI?
EMI is short form “Equated Monthly Installment” or the Amount that is payable per month if you take a loan of a certain amount for a certain period. The calculation of EMI depends on 3 main factors:
Loan Amount – The Rupee value of the loan that you take
Loan Interest Rate – The interest rate that the bank will charge for the Loan
Tenure of Loan – The period for which you take the Loan
*Note: Applicable for selected customers upon completion of online verification and acceptance of final offer.