Question 1

How is EMI calculated?

Accepted Answer

The calculator uses the standard reducing-balance formula with a monthly interest rate and equal monthly payments.

Question 2

Are the results an offer or quote?

Accepted Answer

No. Results are estimates based on the values entered. A lender may use different fees, rates or compounding assumptions.

Question 3

Does it save my loan details?

Accepted Answer

No. The calculation stays in this page and is not stored or sent to a server.