EMIs – How Are They Calculated & How To Keep Track

EMI simplified by Loan Singh

When taking a loan you get to hear a lot of new jargon, including EMI, short for Equated Monthly Installments.

EMIs are fixed monthly payments from the borrower to the lender; paid on a specified date each month and usually comprise of the interest and a bit of the principal. These EMIs are usually payable for the duration or tenure of your loan.

How do you know what your EMI is likely to be?

You need 3 things to calculate your EMIs: a loan, the interest you’re willing to pay on it and the period in which you and the lender are okay to complete the loan repayment.

If you’re into the Math

The formula for EMI calculation is:


EMI Formula

Where P is the loan amount

R is the yearly rate of interest or ROI/12/100

N is the period in which the loan needs to be repaid


Keep it simple!

Just remember that the higher the loan amount or the interest rate, higher is the EMIs you will need to pay, or vice versa.

And the amount of EMIs to be paid reduces when you choose to pay over a longer period of time but the interest amount to be paid with the EMIs increases proportionately.


Loan Singh makes it Easy

What happens if you want to know value of EMIs for your loan beforehand? That is why we have the loan EMI calculator for you.

Loan Singh asks you to decide the Loan amount you require and the duration over which you will be comfortable paying it back. Loan Singh then uses the reducing outstanding loan amount to come up with the interest rate.

Loan Singh’s EMI Calculator


The Loan Singh Dashboard

To help you track of your EMIs Loan Singh offers an online dashboard. Here you can view EMI history, outstanding balance and next installment due date.

You can even apply for a new loan from the dashboard itself.

Loan Singh EMI Dashboard View


Our loan process is completely online and you can apply directly on our website: www.loansingh.com

You can also call us on 18008435353, drop us an email at hello@loansingh.com or leave your comments below.



Leave a Reply

Your email address will not be published. Required fields are marked *