A1 EMI Calc Provides EMI Calc - Compound Interest Calc - Home Loan Calc etc.
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EMI, which stands for Equated Monthly Instalment, refers to a predetermined fixed payment that borrowers make to lenders on a specific date each month. This regular instalment includes both the principal amount and the interest, allowing borrowers to gradually repay their loans over a set period. EMIs provide a structured repayment plan and are commonly used in various types of loans, such as home loans, car loans, and personal loans.
š. š£šæš¶š»š°š¶š½š®š¹ š®šŗš¼šš»š :The initial loan amount or principal is a significant determinant of the EMI. A higher principal will result in a higher EMI, while a lower principal leads to a lower EMI.
š®. šš»šš²šæš²šš šæš®šš² (%) : The annual rate of interest charged by the lender has a direct impact on the EMI. A higher interest rate results in a higher EMI, while a lower rate leads to a lower EMI.
šÆ. šš¼š®š» šš²š»ššæš² : The duration of the loan, typically measured in months, affects the EMI. A longer tenure reduces the EMI amount but increases the total interest paid over the loan's life, whereas a shorter tenure increases the EMI but reduces the overall interest cost.
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Compound interest is the interest you earn on interest.
šš¼šŗš² šš¼š®š» šš®š¹š° :
A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenures. They are repaid through EMIs.
šš®šš¶š° šš®š¹š° :
A Basic Calc is that performs arithmetic operations on numbers. Basic calculators can do only addition, subtraction, multiplication and division mathematical calculations.
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