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How EMI Calculator works?

EMI or Equated Monthly Installment is the amount of money that you have to pay to a bank or any other institution from which you have taken the loan. You will have to pay EMI every month until your loan is fully paid off. It consists of the interest on loan as well as the amount which is to be repaid.

To use the EMI Calculator to find out the amount you need to pay every month, enter:

  • Loan Amount: The amount that you wish to take as a loan
  • Loan Tenure: Time frame for which you want to avail the loan
  • Interest Rate: The interest rate on the given amount of loan

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