Loan Precision Tool
EMI Calculator
Five Lakh
₹5,85,044
Per Day Equivalent
₹542
Principal
₹5,00,000
85%Interest
₹85,044
15%EMI (Equated Monthly Installment)
A fixed payment amount made by a borrower to a lender at a specified date each calendar month.
Principal Amount
The original sum of money borrowed in a loan. This is the amount you actually receive.
Rate of Interest (ROI)
The percentage of principal charged by the lender for the use of its money. Usually expressed as an annual percentage.
MCLR
A methodology used by banks in India to determine interest rates for loans. It's the minimum interest rate below which a bank cannot lend.
Repo Rate
The rate at which RBI lends money to commercial banks. Changes in repo rate affect your loan interest rates.
Processing Fee
A one-time fee charged by lenders for processing your loan application, typically 0.5% to 2% of the loan amount.
Variable Interest
Rates can vary by bank. Use this tool to find your threshold.
Amortization
Understand how your principal reduces over the loan tenure.
Tenure Impact
Small changes in years can save lakhs in total interest.