Know Your EMI with Easy-to-use EMI Calculator at loanbaba.com
EMI or Equated Monthly Instalment is the monetary amount that you pay back to the financial institutions as a repayment of your loan, but it is done in smaller instalments. The EMI of your loan consists of the Principal amount with the Interest component/amount added to it.
At the beginning of your EMIs repayment tenure, the interest component is high in comparison to the principal component. With time, the interest component decreases in comparison to the principal (as interest is applied to lower residual principal amount).
loanbaba.com offers an accurate, online home loan EMI calculator that helps you to quickly determine the EMI amount for loan repayment.
For knowing the EMI amount, you must fill in certain information here, including:
You can use the slider for increasing or decreasing the values in different input parameters. The resultant EMI (based on your inputs), will be displayed here on the EMI calculator. The calculator will also provide the total sum or total outgo in its interest and principal components of the loan's entire term.
loanbaba.com offers you a modern platform where you can compare EMIs of home and other loans that are offered by multiple banks at different interest rates and choose the best option that is affordable and comfortable for you.