Bank Loan EMI Calculator
Repayment Schedule
| Month | EMI (₹) | Interest (₹) | Principal Paid (₹) | Balance (₹) |
|---|
About the Bank Loan EMI Calculator
Our Bank Loan EMI Calculator helps you estimate your monthly loan repayments by calculating the Equated Monthly Installment (EMI) for your loan. By entering the loan amount, annual interest rate, loan tenure, and optional advance payment with date, you can determine your monthly EMI, total interest payable, total payment, and view a detailed repayment schedule. The calculator also includes a pie chart to visualize the principal and interest components. This tool is ideal for planning home loans, car loans, or personal loans and is optimized for Blogger posts, mobile, and desktop devices.
Why Use Our EMI Calculator?
- Accuracy: Uses the standard EMI formula for precise calculations.
- Comprehensive: Includes repayment schedule and advance payment impact.
- Visual Insight: Pie chart to visualize principal and interest proportions.
- Responsive Design: Optimized for Blogger posts, mobile phones, tablets, and desktops.
How to Use the Calculator
Follow these steps to calculate your loan EMI:
- Enter the loan amount (in INR) in the first field or use the slider.
- Specify the annual interest rate (%) in the second field or adjust the slider.
- Input the loan tenure (in years) in the third field or move the slider.
- Enter an optional advance payment (in INR) or leave it as 0.
- Select a future date for the advance payment (after June 20, 2025) or leave blank if no advance payment.
- Click the "Calculate EMI" button to view your results, chart, and repayment schedule.
Calculation Formula
The calculator uses the following formula to compute the EMI:
Where:
- EMI = Equated Monthly Installment
- P = Loan Amount (Principal)
- r = Monthly Interest Rate (annual rate ÷ 12 ÷ 100)
- n = Loan Tenure in months (years × 12)
Total Interest Payable = (EMI × n) - P
Total Payment = EMI × n
For advance payments, the calculator adjusts the principal and recalculates the tenure or EMI accordingly.
Benefits of Using the EMI Calculator
- Financial Planning: Budget for loan repayments with a clear schedule.
- Advance Payment Impact: See how prepayments reduce tenure or EMI.
- Loan Comparison: Compare loan offers by adjusting rates and tenures.
- Transparency: Visualize the total cost of your loan with a pie chart.
Embed this EMI Calculator in your Blogger post to help readers plan their loans effectively. It's a reliable tool for financial decision-making and loan management!
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