Below are answers to some of the most common questions about our EMI calculator and loan-related queries. If you don’t find what you’re looking for, feel free to contact us.
EMI stands for Equated Monthly Installment. It is a fixed amount paid by a borrower to a lender every month to repay a loan. The EMI includes both the principal amount and the interest on the loan.
Our EMI calculator uses the standard formula: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where:
Yes, our EMI calculator is completely free to use. There are no hidden charges or subscriptions required. You can calculate your EMI as many times as you need.
Yes, our General EMI Calculator can be used for any type of loan, including home loans, personal loans, car loans, education loans, and more. Simply input the loan details, and the calculator will provide accurate results.
Your EMI may be higher than expected due to factors like:
Yes, most lenders allow prepayment of loans, but terms and conditions may vary. Some lenders may charge a prepayment penalty, while others may not. Check with your lender for their specific policies.
Our EMI calculator provides highly accurate results based on the inputs you provide. However, actual EMIs may vary slightly depending on lender-specific terms, processing fees, or other charges. Use the calculator as a guide for planning purposes.