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Personal Loan: How Much EMI Will You Pay on a ₹9 Lakh Loan for 6 Years

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Personal Loan: How Much EMI Will You Pay on a ₹9 Lakh Loan for 6 Years

What is a Personal Loan EMI? EMI (Equated Monthly Installment) is the fixed amount you pay your lender every month until your loan is repaid. It includes two components: The EMI amount is calculated using a standard formula, which depends on your loan amount, interest rate, and tenure. EMI for a ₹9 Lakh Loan for … Read more

Personal Loan: How Much EMI Will You Pay on a ₹10 Lakh Loan for 4 Years

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Personal Loan: How Much EMI Will You Pay on a ₹10 Lakh Loan for 4 Years

What is a Personal Loan EMI? EMI (Equated Monthly Installment) is the fixed monthly amount you pay to the bank or lender until the loan is fully repaid. It includes both principal (loan amount) and interest (lender’s charge). The formula used for EMI calculation is: EMI = [P x R x (1+R)^N] / [(1+R)^N – … Read more