GST-VAT-Calculator-LoanEMI

GST VAT Calculator Introduction

The multi-purpose loan calculator is a 4-in-1 calculator that aims to answer your questions such as:

* How much is the monthly payment – aka EMI – for my loan?

* How much money can I afford to borrow?

* How long will it take to repay my loan?

* How much interest would I have to pay for an item (electronic gadgets, furniture,

household appliances etc.) that I purchased under a “low EMI” scheme?

These four calculators aim to address all the above questions, and more, with an easy-to-use and intuitive interface that provides instantaneous answers.

It is also important to understand the Loan APR concept before using these calculators. Banks charge more than just the interest rate on loans. When obtaining a loan, lenders charge various kinds of non-refundable fees including processing fees and documentation charges. The loan APR factors in these one-time costs associated with borrowing. Loan APR, which is expressed as a yearly percentage rate, represents the true cost of your loan after taking into account the loan interest rate plus the fees & charges that you pay when getting a loan. Loan APR is a more complete measure that reflects the net effective cost of your loan on a yearly basis. For the banks, it represents their internal rate of return (IRR) on the loan.

If you pay ₹ 1600/- as processing fees for a computer worth ₹ 40,000/- under a zero percent EMI scheme with a tenure of 6 months, your loan APR is 14.15%. i.e., you are effectively paying 14.15% interest on the loan.

EMI Calculator :-

This calculator is available on the homepage of our website and is provided again here for your convenience. Enter the amount you wish to borrow along with the interest rate and tenure to determine your EMI. You can also change the start date for the EMI payment schedule. Interest rates offered by different banks may vary and you will be able to quickly determine your monthly payment under all scenarios.