A Loan EMI (Equated Monthly Installment) Calculator helps users calculate the fixed monthly payment they need to make when repaying a loan. It considers the loan amount, interest rate, and loan tenure to determine the EMI.
What Loan EMI (Equated Monthly Installment) Calculator ?
A Loan EMI (Equated Monthly Installment) Calculator helps users calculate the fixed monthly payment they need to make when repaying a loan. It considers the loan amount, interest rate, and loan tenure to determine the EMI.
How a Loan EMI Calculator is Work ?
1. User Inputs Data:
Loan Amount (Principal) – The total loan taken.
Interest Rate – The annual interest rate (%) set by the lender.
Loan Tenure – The repayment period (in months or years).