Does EMI stay constant for floating rates?
Only fixed rates guarantee a constant EMI. For floating loans, rerun the calculator whenever the lender adjusts the APR.
Step-by-step walkthrough
EMI Calculator Guide
Use this companion guide beside the interactive calculator to make sure you understand the “why” behind every click. Each section includes the classroom explanation, student-friendly language, and quick practice prompts.
Before you start
Collect the data points listed below and double-check their units. Keeping an organized “givens” list is one of the fastest ways to reduce math errors and impress exam graders.
- emi
- loan payment
- installment
Detailed procedure
Step 1
Enter the loan amount you plan to borrow.
Step 2
Provide the annual interest rate and the term in years.
Step 3
Review the EMI, tenure in months, interest paid, and total repayment.
Teaching & troubleshooting tips
How do extra payments affect EMI?
Prepayments reduce principal and shorten the schedule, but the EMI itself stays the same unless the lender recalculates the loan.