EMI

What does it mean?

An EMI or Equated Monthly Installment is a fixed payment by the borrower to a lender on a specified date each calendar month. EMIs are used to pay off a sum of the interest and principal regularly so that the entire loan is repaid in a specified time period. EMIs are available even with the most common types of loans like student and personal loans in India.

Points to remember

  • EMIs ensure that the borrower knows exactly how much payment is expected and when.
  • There are different methods of calculating EMI rates like the flat rate method and the reducing balance method.
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Personal Loan EMI Calculator

Skip the manual calculations. Use the EarlySalary EMI Calculator to accurately determine your repayment amounts, interest charges, and more.

EarlySalary's personal loan EMI calculator is your reliable tool to determine your loan EMI in just a few minutes and some simple steps. EarlySalary offers personal loan of up to Rs 2 lakhs with minimal documentation and quick processing. Coupled with interest rates as low as Rs 9/day, this is by far your most compelling credit option in the market. Calculate your monthly repayments based on your sanctioned loan amount and interest rates using this handy EMI calculator that's operate and easy to understand. With EarlySalary, you can even prepay your loan amount with no additional charges.

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