# **What is EMI Calculator ?**

EMI means Equated Monthly Installment which is used for a fixed amount of payment a borrower has to make to the lender on a certain date on monthly basis. The EMIs consist of the both the "principal loan" amount and the amount of "interest" and payable for each month,so that over a number of years the loan is paid off completely.

The main benfit of using this EMI calculator is to know the borrower how much money they will need to pay towards their loan every month,using this calculator you can make the personal budget plan process quickly.This is one of the easiest method to each and every one.Previously everyone used EMI formula to calculate the amount for monthly basics but now the technology developed alot you can just calculate by using this EMI calculator.To calculate your monthly amount just click on the below link...

**https://thebankinfo.com/bank/emi_calculator**

After opening the link you can just fill the above details correctly according to your amount then click on the calculate button now you can see the results below.

**Everyone should know about EMI calculator :**

Firstly Consider a situation in which you have decided that you are going to take a loan, be it a personal loan, car loan or a home loan. The first step to take the loan is not to apply for it, but actually sit down and figure out how much it will cost you. This cost is calculated in terms of the monthly payments that will have to be paid towards the loan and are called EMI or equivalent monthly fees.To get the EMI you basically need to calculate the amount borrowed, the interest you will have to pay on the amount and amount that you will pay as the processing fee for that loan. Once you have all this information, you will need to sit down with a pen and paper to see how much the monthly payment will be for your choosen loan tenure. Once this is done, you may realize that the EMI is too large and you need to reduce it in some way.

To do this, you will need to adjust the tenure of the loan or the amount you wish to borrow and make the calculations again.Once you have the right EMI for you, you will start looking at other banks or financial institutions that will offer you these loans and you will realize that you have to repeat the same calculation for each bank and make sure you do not make mistakes. Simply reading about this process is so exhausting that you wish there was an easier way to do this whole exercise quickly and efficiently so you can make your decisions quickly and that is where the EMI calculator comes into the picture by using this EMI calculator you can make your work with in a minutes.

**SEARCH RELATED TO: https://thebankinfo.com/bank/fd_calculator**