Monthly EMI
₹0
for 240 months
Principal Amount
₹0
Total Interest
₹0
Total Amount Payable
₹0
Opt for a longer tenure to reduce monthly EMI, but remember total interest increases.
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment made by a borrower to a lender on a specified date each month. It includes both principal and interest components.
EMI Formula
Where P = Principal, R = Monthly Interest Rate, N = Number of Months
Factors Affecting EMI
- Interest Rate: Higher rates mean higher EMI
- Tenure: Longer tenure reduces EMI but increases total interest
- Principal: Higher loan amount means higher EMI
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