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# EMI Calculator: Calculate Loan EMI Online

###### Rate of Interest is high ?

Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases

###### Not getting the desired Loan Amount?

Try Adding the income of a co-applicant like a working spouse

EMI FAQs

## What credentials should be shared to check EMI details?

The applicant should just give loan amount, tenure, interest rate percentage and processing fee. There are separate EMI calculators for home loan, personal loan, business loan, car loan and so on

## What is the method of EMI calculation on Excel?

Simple EMI calculation is (P X R/12) X [(1+R/12) ^N] / [(1+R/12) ^N-1] and for excel it is PMT(RATE,NPER,PV,FV,TYPE)

## What is the difference between EMI in Advance vs. EMI in Arrears?

It can be illustrated through an example: EMI schemes for a car loan. On road price of the car: Rs. 4,50,000, Interest rate for the loan: 12%, Loan amount applied for: Rs. 3,00,000, Processing fee for the loan: Rs. 3,000 and Loan tenure: 36 months.

## Is it possible to give standing instructions to the bank for EMI payment?

Yes, it is possible and this way you will not miss paying the EMI on a timely manner. However, when you are giving standing instructions, it is important to make sure there is sufficient balance in your account for the EMI payment.

## What is pre-EMI interest?

This is the interest amount paid to the bank on a monthly basis from the month of loan disbursement upto the month of loan EMI payment.

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