EMI calculator

    EMI calculator

    EMI of the Car Loan mainly depends on 3 Paramenters
    ​Loan Amount
    ​Rate of Interest
    ​Tenure of the Loan

    “EMI- Equated Monthly Installment

    Among different re-payment methods by borrower to lender, EMI is most common method of repayment in Banking sector. 

    Though Car Loan EMI calculation depends only on 3 parameters, If it not properly understood borrower will end up paying more to lender.

    EMI depends on

    1. Principle (Loan Amount)

    2. Tenure

    3. Rate of Interest