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The monthly payments required to settle personal loans are known as Equated Monthly Installments, or EMIs. The interest on the loan along with a portion of the principal amount that must be repaid make up the installment payments. Each installment's interest is first paid at a greater rate and gets smaller with each payment.
The EMIs can be computed using a straightforward EMI formula, although it can be difficult and error-prone to compute the EMIs for various combinations. AlhadithaInvest.com EMI calculator computes the EMIs and provides a visual representation of the overall payment breakdown in a matter of seconds.
Following information needs to entered to calculate the exact EMI
The calculator displays the breakdown of the total payment in terms of the main loan amount and the total interest amount once the above numbers are entered. Additionally, it provides a clear visual pie chart that breaks down the overall sum.
