EMI Calculator

Finnable provides you with an unsecured loan for all types of start-ups and any personal reasons. How many times have you struggled to maintain a monthly installment and had to cut down your monthly expenses? Finnable is here to help you to fulfill your financial need and also manage your financial balances. One of the main services of Finnable is a Digital Equated Monthly Installment Calculator, where you can know your EMI loan including your monthly installment and the total amount payable which helps you to know your EMI loan before applying for any loan. It’s not as simple as it seems, as the amount consists of the interest on the loan and a part of the principal amount to be repaid. Following is the formula to calculate EMI:

EMI Calculator formula:- P x R x (1+R)^N / [(1+R)^N-1] where:

1. P = Principal loan amount
2. N = Loan tenure in months
3. R = Monthly interest rate
4. R = Annual Rate of interest/12/100

Computing EMI on a sheet or MS Excel every month for various combinations of loan amounts, the interest rate is confusing, time-consuming and there is room for error.

What if there were an EMI calculator online that will evaluate your EMIs, Interest, and total loan for you? Finnable is here to make your life simple through EMI Calculator, Our EMI Calculator is just like any other mathematician calculator, just a slight change over here EMI Calculator calculates the monthly EMI and loan amount digitally. We present your EMI Calculation most simply and interestingly as possible with interesting graphs and charts. In Finnable you do not have to follow the traditional standard procedure where you have to wait for weeks and months for your loan approval. Finnable instant loan app offers a complete digital service within 48 hours to guide you with your EMI calculation and save you precious time.

How to use a EMI Calculator?

How often have you struggled with your EMI calculations and failed to manage your cash flow? Don’t worry Finnable is here to manage your EMI for a home loan, car loan, educational loan, personal loan, vehicle loan, and many other loans.

Steps to follow to use EMI Calculator

• Visit the Finnable website, and go to the EMI Calculator option
• You will be asked to provide the following details: Loan amount, Interest rate, and Tenure period. You can adjust the details on the slider or add them manually.
• Once you enter the details, the EMI calculator will display your Total Amount payable segregating your Interest payable and total EMI Loan.
• Further to this, you may try more advanced parameters to find the best EMI option that suits your financial estimates.

Types of EMI Calculator

There are numerous types of EMI calculators, depending on the loans you require. Here are a few examples:

Personal loan EMI calculator

In a personal loan, you are free to use the loan amount you get in any way you wish like to plan a holiday, medical reasons, house renovation, wedding, for your kid’s education, basically any legitimate financial need. A personal loan is no different from other financial loans, you have to apply for a loan, and you will have to submit your documents after all the verification and eligibility fulfilment, the Loan amount is transferred to your bank account.
Finnable brings a perfect personal loan EMI calculator to evaluate your loan and EMI that you can manage without inconvenience.

Educational loan EMI Calculator

A report of the NSSO’s 75th Round survey of “Household Social Consumption of Education in India” conducted from July 2017 to June 2018 gives some disturbing results. Education beyond a secondary level is increasing rapidly making it unaffordable for many working people and which is burdening middle-income people. An Educational Loan is the best option for parents can opt for their children’s Education. It is a sum of money borrowed to finance post-secondary education or higher education that cover your children’s tuition cost, books, and supplies. Educational loan payments can be deferred according to the student’s education status, sometimes they extend it to an additional six-month period after the student receives the degree. Finnable’s Education loan EMI calculator makes it easy to manage your loan by finding out the EMI amount you have to pay for your borrowed loan.

Car loan EMI Calculator

Be it the latest Maruti Grand Vitara, Mahindra Alturas G4, Audi A4, or any of your dream cars, your car loan is there to fund this investment. Be it two-wheelers or four-wheelers, you can purchase the vehicle of your choice. The loan is to be paid with interest within a specified period. In an unfortunate situation, if you fail to pay the amount your car/bike may be taken away and put out in auction and recover the balance amount. So, you must have prior knowledge about your EMI amount, you can use Finnable’s car loan EMI calculator or bike EMI calculator to manage your loan and EMI amount easily without any inconvenience.

Advantages of EMI Calculator

As it’s said prevention is better than cure, then why not be a little assured about your EMI loan and its interest before applying for a Loan.

• EMI calculator helps you to make the necessary decisions, by keeping you informed of your EMI amount according to the tenure you chose to pay. Increasing/ decreasing your EMI majorly depends on the interest rate, the monthly interest amount, and the total loan because EMI is directly proportional to the principal amount you have borrowed, the longer the loan tenure reduces your monthly expenses, and the higher the loan the higher the EMI. This is where the EMI calculator helps you to make your further decisions.
• The EMI calculator provides you with your EMI amount so that you can prepare yourself to repay the monthly amount without fail. This will also help you to maintain a good credit score.
• EMI Calculator saves you from all the complex calculations and the chance of error is less compared to when done manually. This makes your life simple and less stressful
• EMI calculators online can be used anywhere at any time, you do not have to wait for hours and hours in the bank waiting for your turn to spill your loan query. You can assess your EMI online whenever you want, all you need to do is enter the loan amount, interest rate, and tenure period to get the value of the monthly installment in a few seconds. This makes EMI calculation an easy task and will maintain your financial status balanced.

Advantages of using Finnable EMI Calculator

• Completely free of cost. One can use it anywhere at any time.
• It’s quick and guarantees you 100% accurate results
• Easy to access, Finnable avoids any complications. You can know your EMI calculation in just a few easy steps.
• Finnable ensures the safety of its customers via standard security, we do not share any personal information with their party apps.
• None of your data is used for any other motive
• Authorized by RBI & Regulated NBFCs/ Financial Institutions.
• EMI calculator online is the best way to prepare for your EMI Loan by assessing your eligibility to avail of the loan, measuring your payment capabilities, and also maintaining your financial well-being before taking this crucial step on your financial journey.

Visit Finnable to know more about Personal loans, education loans, vehicle loans, travel loans, medical loans, home renovation loans, marriage loans, and shopping loans.