Personal Loan EMI Calculator
Principal Amt. 100000
Interest Payable 18250
What is Personal Loan EMI?
It is a fixed monthly amount that a borrower needs to make in order to repay the personal loan amount.
How is Personal Loan EMI Calculated?
The Personal Loan EMI is calculated on the basis of following factors namely principal amount, interest rate & loan tenure.
The formula of Home Loan EMI calculation is:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here, P stands for principal amount that is borrowed as a loan, R stands for rate of interest that is applied on the loan amount & N is the loan repayment tenure or the number of monthly installments that you will have to pay