Q1. What is an EMI in a loan?
An EMI (Equated Monthly Installment) is the fixed amount you pay every month towards repaying your loan. It includes both the interest and the principal portion.
Q2. Can I check the EMI for any currency?
Yes. The calculator supports multiple currencies (PKR, USD, EUR, INR). You just need to select your currency from the dropdown.
Q3. What is the Amortization Schedule?
The amortization schedule is a table that shows the month-by-month breakup of your EMI. It highlights how much goes towards principal, interest, and the remaining balance.
Q4. Is this EMI calculator accurate for all loans?
This calculator gives an accurate estimate for most standard bank loans. However, actual EMIs may differ if your lender uses different methods, charges processing fees, or offers special repayment options.
Q5. Can I change the loan tenure in years and months together?
Yes. The calculator allows you to enter loan tenure in both years and months. For example, if your loan is for 2 years and 6 months, simply enter 2 in years and 6 in months.