📝 How to Use
- Enter the loan amount, interest rate, and loan tenure.
- Click “Calculate” to get the monthly EMI amount.
- You can clear the input and output fields using the “Clear” button.
❓ Frequently Asked Questions
Q: What is EMI?
A: EMI stands for Equated Monthly Installment, which is the amount you pay each month towards repaying your loan.
Q: What happens if I change the loan tenure?
A: A longer tenure will reduce your monthly EMI but increase the total interest paid. A shorter tenure will increase the EMI but reduce the overall interest.
Q: How accurate is the EMI calculation?
A: The tool calculates EMI based on the standard formula, and the result is quite accurate based on the inputs you provide.