Why is EMI calculator important?

If you too are thinking of taking a finance loan for a car, bike or anything else then it is important for you to know how much EMI you will have to pay every month. It means that if you do not have an idea of the EMI then it might spoil your budget, therefore it is important to know about EMI properly. Friends we have brought a calculator for all of you and in it you can calculate anyone’s EMI. And it shows you the correct figures in real time.

Features of this EMI calculator

• Car Loan EMI Calculator – View EMI by simply entering on-road price, down payment, interest rate and tenure.

• Bike Loan EMI Calculator – Calculate bike loan EMI and interest in seconds.

• Personal Loan EMI Calculator – Just enter loan amount, interest and tenure, get EMI instantly.

• Real-time calculation – EMI will change as the inputs change.

• Donut Chart – Percentage of principal and interest in EMI.

• Amortization Table – Breakup of EMI for each month.

• Print and Download – Save EMI report in PDF or CSV.

How to use?

• Firstly choose the loan type for which you want to take loan, Car, Bike or Personal Loan.

• After that you will have to enter the On-Road Price and Loan Amount.

• After that fill the down payment, and this down payment is only for Car and Bike.

• After that you will have to select the interest rate and time period, like years.

• And then the result will show EMI, total interest and total payment immediately.

Car Loan EMI Calculator Example

Friends, suppose you are buying a car worth ₹8,00,000 and paying a down payment of ₹1,50,000, apart from this the interest rate is 9%, and you are taking it for 5 years, then the result of this will be that you will have to pay ₹13,037 in monthly EMI every month, the total interest will be ₹2,22,220 and the total payment will be ₹8,72,220.

Bike Loan EMI Calculator Example

For example, you are buying a bike worth ₹1,20,000 but the down payment is ₹20,000 and the interest rate is 10% and you are taking it for 3 years then the result will be that you will have to pay ₹3,224 as EMI every month and your total interest will be ₹15,060 and the full payment will be ₹1,35,060.

Personal Loan EMI Calculator Example

Neither a car nor a bike, if you want to take just a loan of say ₹2,00,000 and the interest rate is 12% and you want to take this loan for 4 years then its amount would be like this like every month you will have to pay EMI of ₹5,267, its total interest will be ₹52,816 and the total amount you will have to pay would be ₹2,52,816.

Benefits

• It will help in planning the budget in advance

• The impact of interest rates can be seen immediately

• EMI can be reduced by changing the down payment

• Comparison of different banks/finance companies is easy

conclusion

Whether you want to buy a car or a bike but don’t have the enough money, you want to buy it on EMI or if you just want to take a loan, then you can calculate everything through the EMI Calculator available on CarBikeFinance.com, that too in a very easy way, whether you want to calculate the EMI of a car or a bike, or if you just want to take a loan, then you can calculate everything through this All in one EMI Calculator.