EMI Calculator 2018 848 views
When it comes to availing a personal loan from Fullerton India, it is important to talk about EMI Calculation. Yes, what would be the exact amount of your monthly installments? Is it going to be pocket-friendly or not? Well, the answers of all these questions is just one, i.e. EMI Calculator. That’s right! A personal loan EMI Calculator is one such magical tool that lets you know about your EMIs, Interest Outgo and Total Amount Payable within few seconds. By taking into account:
- Interest Rate
- Loan Amount
This device gives you the exact results in the best way. It shows the data in a graphical representation, allowing you to understand things in a better way.
|Monthly Instalment (EMI)|
|Total Interest Amount|
|Total Amount (Principal + Interest)|
Table of Contents
Fullerton India Personal Loan EMI Calculator
To make you understand better, let’s just take the help from an example below.
Suppose, Pulkit Gupta, a 27-year-old Software Engineer by profession is looking for a personal loan of ₹5 Lakh so as to travel to Australia. After checking his profile the lender has agreed to offer him the loan at an interest rate of 14% per annum for a tenure of 5 years. But before availing the loan, Pulkit wants to know whether his EMIs are going to be affordable or not? So, let’s take a look at the table below to know the exact calculation of EMIs, Interest and Total Amount Payable on a personal loan.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Total Interest Amount
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Fullerton India Personal Loan EMI Calculation Formula
An EMI Calculator uses the below formula to calculate an EMI:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments