FINANCIAL PLANNING · CALCULATOR
EMI calculator
Enter the loan amount, the interest rate and the tenure in years or months to see your monthly EMI, the total interest payable and what the loan really costs.
Before you take any loan, be equipped with the right information at the right time.
THE BASICS
What is EMI?
EMI means Easy Monthly Instalment. It gives you the flexibility to make a big purchase — buying your own property, a car, or covering any other personal need — with the loan easing the problem significantly.
You pay a fixed amount every month to your bank or financial institution until the loan is fully paid off. That monthly amount consists of the interest on the loan as well as part of the principal being repaid.
WHY USE IT
Using the EMI calculator
When the time comes to repay, most people feel their bank is charging way too much interest. It usually isn’t the case.
This is why you should always be equipped with the right information at the right time. Before you go ahead and take any loan, use this calculator to know your monthly EMI amount.
WHEN PEOPLE BORROW
Most of us take loans in these cases
Home loan
To buy your own home in the location of your choice.
Car loan
To buy a car of your choice.
Education loan
For education planning, use our education planning calculator.
Personal loan
A vacation abroad, home maintenance and repair, or a medical emergency.
PRACTICAL ILLUSTRATIONS
Three worked examples
ILLUSTRATION 01 · HOME LOAN
₹1 crore for a home in Chennai
Your bank charges 8% on the home loan and you choose a 10-year repayment. Putting ₹1 crore, 8% and 10 years into the calculator gives:
MONTHLY EMI
₹1,21,328
TOTAL REPAID
₹1,45,59,360
INTEREST OVER THE PRINCIPAL
₹45,59,360
ILLUSTRATION 02 · PERSONAL LOAN
₹10 lakh for a family holiday in Europe
You take a personal loan at 15% interest and want to repay it over the next 10 years through EMI. The calculator shows:
MONTHLY EMI
₹16,133
TOTAL REPAID
₹19,35,960
INTEREST OVER THE PRINCIPAL
₹9,35,960
In this way you can calculate your EMI customized to your needs — whether it is a personal loan, car loan, education loan or home loan. Make use of this calculator and be prepared to manage your money effectively, in advance.
TAKE THE FIRST STEP
Take the first step toward your next wealth milestone
Start with a no-cost Wealth Check and see the roadmap from where you are today to ₹1 Cr, ₹5 Cr and beyond.
PHONE
+91-44-4203 0722
ramalingam@holisticinvestment.in
rajan@holisticinvestment.in
OFFICE
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T. Nagar, Chennai – 600017, India