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 EMI Calculator

EMI Calculator - Calculate Equated Monthly Installment (EMI) for Home Loan / Housing Loan, Car Loan & Personal Loan in India ( with interactive charts).

Loan Calculator | Emi Calculator For Personal Loan

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EMI Stands for Equated Monthly Installment

If you are taking loan for any purpose you have to pay it in Installment. Commonly known as EMI. By the way of EMI you can pay your loan amount in monthly basis. 

Home loan EMI Calculator

Want to know how much amount of EMI you will need to pay on specific amount of Loan. The EMI includes repayment of the principal amount and payment of the interest on the outstanding amount of your Loan. Here is a online EMI calculator to Calculate the amount with variable time and interest rate. Now get Your EMI details for Home Loan, Car Loan, Auto Loan, Personal Loan and much more.


 What Is EMI | EMI Calculator SBI

EMI Group Limited (originally an initialism for Electric and Musical Industries, also referred to as EMI Records Ltd. or simply EMI) was a British transnational conglomerate founded in March 1931 in London. 

At the time of its break-up in 2012, it was the fourth largest business group and record label conglomerate in the music industry, and was one of the "Big Four" record companies (now the "Big Three"). Its labels included EMI Records, Parlophone, Virgin Records, and Capitol Records, which are now owned by other companies.

EMI was once a constituent of the FTSE 100 Index, but faced financial problems and US$4 billion in debt, leading to its acquisition by Citigroup in February 2011. 

Citigroup's ownership was temporary, as EMI announced in November 2011 that it would sell its music arm to Vivendi's Universal Music Group for $1.9 billion and its publishing business to a Sony/ATV consortium for around $2.2 billion.

 Other members of the Sony consortium include the estate of Michael Jackson, the Blackstone Group, and the Abu Dhabi-owned Mubadala Development Company. EMI's locations in the United Kingdom, the United States, and Canada were all disassembled to repay debt, but the primary head office located outside those countries is still functional.

Personal Loan EMI Calculator SBI

EMI is now owned by Sony/ATV Music Publishing, the music publishing division of Sony Music which bought another 70% stake in EMI Music Publishing.

EMI Stands for Equated Monthly Installment
If you are taking loan for any purpose you have to pay it in Installment. Commonly known as EMI. By the way of EMI you can pay your loan amount in monthly basis. 

Want to know how much amount of EMI you will need to pay on specific amount of Loan. The EMI includes repayment of the principal amount and payment of the interest on the outstanding amount of your Loan. 

Here is a online EMI calculator to Calculate the amount with variable time and interest rate. Now get Your EMI details for Home Loan, Car Loan, Auto Loan, Personal Loan and much more.

What is EMI Stand For? | Car loan EMI Calculator

Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

Here's the formula to calculate EMI:


EMI Formula

where

E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)

n is loan term / tenure / duration in number of months


 
For example, if you borrow ₹10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then EMI = ₹10,00,000 * 0.00875 * (1 + 0.00875)120 / ((1 + 0.00875)120 - 1) = ₹13,493. i.e., you will have to pay ₹13,493 for 120 months to repay the entire loan amount. The total amount payable will be ₹13,493 * 120 = ₹16,19,220 that includes ₹6,19,220 as interest toward the loan.

Computing EMI for different combinations of principal loan amount, interest rates and loan term using the above EMI formula by hand or MS Excel is time consuming, complex and error prone. Our EMI calculator automates this calculation for you and gives you the result in a split second along with visual charts displaying payment schedule and the break-up of total payment.

How to Use EMI Calculator? | HDFC EMI calculator

With colourful charts and instant results, our EMI Calculator is easy to use, intuitive to understand and is quick to perform. You can calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator.

Enter the following information in the EMI Calculator: | Personal loan EMI Calculator HDFC

Principal loan amount you wish to avail (rupees)
Loan term (months or years)
Rate of interest (percentage)
EMI in advance OR EMI in arrears (for car loan only)
Use the slider to adjust the values in the EMI calculator form. If you need to enter more precise values, you can type the values directly in the relevant boxes provided above. As soon as the values are changed using the slider (or hit the 'tab' key after entering the values directly in the input fields), EMI calculator will re-calculate your monthly payment (EMI) amount.

A pie chart depicting the break-up of total payment (i.e., total principal vs. total interest payable) is also displayed. It displays the percentage of total interest versus principal amount in the sum total of all payments made against the loan. The payment schedule table showing payments made every month / year for the entire loan duration is displayed along with a chart showing interest and principal components paid each year. A portion of each payment is for the interest while the remaining amount is applied towards the principal balance. During initial loan period, a large portion of each payment is devoted to interest. With passage of time, larger portions pay down the principal. The payment schedule also shows the intermediate outstanding balance for each year which will be carried over to the next year.

Want to make part prepayments to shorten your home loan schedule and reduce your total interest outgo? Use our Home Loan EMI Calculator with Prepayments. If you wish to calculate how much loan you can afford OR determine advertised vs actual loan interest rate (along with loan APR) on a purchase, use our loan calculator.

Floating Rate EMI Calculation | Bike EMI Calculator

We suggest that you calculate floating / variable rate EMI by taking into consideration two opposite scenarios, i.e., optimistic (deflationary) and pessimistic (inflationary) scenario. Loan amount and loan tenure, two components required to calculate the EMI are under your control; i.e., you are going to decide how much loan you have to borrow and how long your loan tenure should be. But interest rate is decided by the banks & HFCs based on rates and policies set by RBI. As a borrower, you should consider the two extreme possibilities of increase and decrease in the rate of interest and calculate your EMI under these two conditions. Such calculation will help you decide how much EMI is affordable, how long your loan tenure should be and how much you should borrow.

Optimistic (deflationary) scenario: Assume that the rate of interest comes down by 1% - 3% from the present rate. Consider this situation and calculate your EMI. In this situation, your EMI will come down or you may opt to shorten the loan tenure. Ex: If you avail home loan to purchase a house as an investment, then optimistic scenario enables you to compare this with other investment opportunities.

Pessimistic (inflationary) scenario: In the same way, assume that the rate of interest is hiked by 1% - 3%. Is it possible for you to continue to pay the EMI without much struggle? Even a 2% increase in rate of interest can result in significant rise in your monthly payment for the entire loan tenure.

Such calculation helps you to plan for such future possibilities. When you take a loan, you are making a financial commitment for next few months, years or decades. So consider the best as well as worst cases...and be ready for both. In short, hope for the best but be prepared for the worst!

Home Loan EMI Calculator | emi calculator for car loan sbi

HDFC's home loan calculator helps you calculate your Home Loan Emi with ease. HDFC's EMI calculator for a home loan can help you make an informed decision about buying a new house. The EMI calculator is useful in planning your cashflows for servicing your home loan. HDFC offers home loans with EMIs starting from ₹646 per lac and interest rates starting from 6.70%* p.a. with additional features such as flexible repayment options and top-up loan. With a low-interest rate and long repayment tenure, HDFC ensures a comfortable home loan EMI for you. With our reasonable EMIs, HDFC Home loan is lighter on your pocket. Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator.

Calculate Home Loan EMI | Home loan eligibility calculator

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
NRI should input net income.

What is Home Loan EMI Calculator?

Home Loan EMI Calculator assists in calculation of the loan installment i.e. EMI towards your home loan. It an easy to use calculator and acts as a financial planning tool for a home buyer.

What is Home Loan EMI?

EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure (for a maximum period of 30 years) helps in reducing the EMI.

How does EMI calculation help in planning the home purchase?

HDFC’s Home Loan EMI calculator gives a clear understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards the housing loan every month. This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of home loan eligibility and planning your home buying journey better.

What are HDFC Home Loans Key Features and Benefits?
Home Loans for purchase of a flat, row house, bungalow from private developers in approved projects

Home Loans for purchase of properties from Development Authorities such as DDA, MHADA etc

Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authorities settlements or privately built up homes

Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority

Expert legal and technical counselling to help you make the right home buying decision

Integrated branch network for availing and servicing the Home Loans anywhere in India

Special arrangement with AGIF for Home Loans for those employed in the Indian Army.

Our tailor made home loans caters to customers of all age groups and employment category. We provide longer tenure loans of up to 30 years, telescopic repayment option, under adjustable rate option that specifically caters to younger customers to become home owners at an early stage of their life.

With our experience of providing home finance for over 4 decades, we are able to understand the diverse needs of our customers and fulfill their dream of owning a home .

How to use HDFC's Home Loan EMI Calculator?

All you need to do is input the following to arrive at your EMI:

Loan Amount: Input the desired loan amount that you wish to avail
Loan Tenure (In Years): Input the desired loan term for which you wish to avail the housing loan. A longer tenure helps in enhancing the eligibility
Interest Rate (% P.A.): Input interest rate.
'Click Here to Know the Prevailing Home Loan Interest Rates'
What is Home Loan Amortization Schedule?
Loan amortization is the process of reducing the debt with regular payments over the loan period. A home loan amortization schedule is a table giving the details of the repayment amount, principal and interest component.

HDFC’s EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the loan tenure and interest rates. EMI calculator also provides an amortization table elucidating the repayment schedule. HDFC’s home loan calculator provides a complete break-up of the interest and principal amount.

HDFC offers various Repayment Plans enhancing Home Loan Eligibility:
HDFC offers various repayment plans for maximizing home loan eligibility to suit diverse needs.

Step Up Repayment Facility (SURF) | EMI Calculator SBI

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

Flexible Loan Installments Plan (FLIP)

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

Tranche Based EMI | 

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

Telescopic Repayment Option

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.

Estimate EMIs of your housing loan by using our feature rich EMI calculator, now!

After getting an estimate of EMI using the calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by HDFC.

What is a Pre-Approved Home Loan?
HDFC also offers a facility of a pre-approved home loan even before you have identified your dream home. A pre-approved home loan is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Click here to know more.

Apply for a home loan online with HDFC, click Apply Online

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