EMI Calculator
Appoximate Monthly Cost is 123AED
Principal Amount
AED 8000
Intrest Rate
6%
Duration
13months
Total Interest Amount
AED
Total payable
8000 AED
EMI Calculator for Dubai
EMI stands for Easy Monthly Installment. As the name suggests EMI is the monthly installment. This includes two parts one is the principal amount divided into monthly payments as per the tenure and one more is the interest rate.
The principal amount borrowed will be divided into equal amounts as per the tenure. This small part will be paid every month including the interest rates. This cuts down the principal amount monthly so there won’t be any burden for the loan holder by the end as you are clearing the principal amount along with the interest rate monthly. EMI is calculated on the fixed rate basis, where the interest rate remains same for the entire tenure.
EMI is calculated on the fixed rate basis, where the interest rate remains same for the entire tenure.
How is EMI Calculated?
EMI = P * r * [(1+r)^n/(1+r)^n -1]
Where, P = Principal amount
r = Rate of Interest
n = loan period
How to Calculate Your EMI?
You can use our EMI Calculator to calculate your EMI.
- Give the principal amount.
- Give the duration term.
- Give the interest rate.
- Our calculator will display the monthly payment you need to pay.
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