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