Calculate your EMI on Emi calculator at Letzbank

Emi Calculator

What is Emi calculator

How Emi calculator work

Types of Emi calculator

1. Home loan Emi calculator2. Car loan Emi calculator3. Personal loan Emi calculator

Home loan EMI calculator It, obviously, shows the exact EMI that will be payable every month for a

specific amount borrowed and a specific tenure.

This means that when the calculator shows you the installments payable, it has already accounted for prepayments and has also included them when showing the breakup of the expenses.

Car loan EMI Calculator The car loan calculator is a tool that can be used to calculate the exact

amount that you will have to pay on a monthly basis when you decide to take a car loan.

Down payments for the vehicle don’t have to be considered when using this calculator.

Personal loan EMI calculator The personal loan EMI calculator is the ideal tool for deciding how

much you can afford to pay back since it is specific to personal loans. It can also be customized to take into account any prepayments that

you intend to make before telling you the EMI that you will have to pay.

Information an Emi calculator provides

There are three parts to the information. First is the EMI. Second a breakup of the payments. third the amortization table. The EMI: It includes payments of the principal and the interest that is applicable on

the loan.

The breakup: The break up will include the amount borrowed, the interest payable, the

amount you will pay through prepayment, the processing fee and the fee for prepayment.

It will also tell you how much of the repayment will be the interest on the loan.

Amortisation tables: The amortisation table is a snapshot of the

progression of the loan and tells you how much you will have paid back at the end of each year, as the loan progresses.

Features and Benifits of Emi calculator

ConvenienceAccuracySpeedy calculationSpecific to each loanGraphic representation of amounts paidAmortisation tables

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