Equated Monthly Instalment's are Fixed Loan Re-Payment Amounts made by a Borrower back to the Lender each Calendar Month.
Equated Monthly Instalments comprise both Interest and Principal components.
EMI Calculation plays a vital role for Home Loan borrowers, as it helps them know precisely how much money they will need to pay toward their Loan each Month, making the Financial Budgeting easier.
Here is the easy Tool to find out the EMI you need to pay for your Housing Loan based on the Interest Rates offered by some of the leading banks in India.
Alternativerly you can use General EMI calculator which will allow you to key in the rate of interest to get the EMI.