Work out your EMI and get the exact list of papers lenders ask for.
For planning only. Your lender confirms the final EMI.
understanding emi
An Equated Monthly Instalment (EMI) is a fixed monthly payment made to a bank or financial institution until your loan is fully repaid.
Each EMI includes principal and interest. Initially more goes to interest; later, more goes to principal repayment, using the reducing balance method.
Planning a loan starts with knowing your monthly repayment. Knowing your EMI before you apply helps you choose a loan amount and tenure that fit your budget.
emi formula
R Monthly interest rate (annual rate ÷ 12 ÷ 100)
emi formula
₹30,00,000
Interest rate
9% p.a.
Tenure
20 years (240 months)
Approximate EMI
₹26,992 a month
how to use it
No sign-up needed. The result updates as you move the sliders.
Enter the total amount you wish to borrow
Enter the total amount you wish to borrow
Input the annual interest rate offered by the lender
Instantly view your monthly EMI
Check the total interest payable over the loan period
See the total payment (principal + interest) for complete clarity
What changes your EMI
Change one of these in the calculator and watch the EMI move.
A higher loan amount leads to a higher EMI.
Lower interest rates significantly reduce your EMI.
A longer tenure lowers monthly outflow but increases total interest.
Partial payments reduce the outstanding principal, lowering your EMI.
Why Nihal Fintech
Walking into a bank gets you that bank’s answer. Coming to us puts your profile in front of the lenders most likely to approve it.
OUR SOLUTIONS
For individuals, NRIs and businesses. We compare lenders for each product and recommend the best fit for your profile.
Free tools
Each tool gives you an answer in a few steps. When you are ready, an advisor can check it against real lender offers.
How much will your monthly EMI be?
Loan amount, interest rate and repayment tenure
Estimated monthly EMI, total interest and total repayment amount
“Which papers will the lender ask for?”
Your profile: salaried, self-employed, MSME or developer
A checklist you can copy or share on WhatsApp
Home loan rates start at 8.5% p.a., depending on your credit score, income profile and loan tenure. The lender sets the final rate for your profile.
With a monthly salary of ₹50,000, you may be eligible for a home loan of approximately ₹25–30 lakh. Existing EMIs, credit score and the lender’s policy change the final amount.
Identity proof, address proof, income proof (salary slips or ITR), bank statements and property documents. Your advisor gives you the exact list for your lender.
Usually 3–7 working days when your documents are complete and your credit score is strong.
A credit score above 750 gets you the best rates and fastest approvals. If your score is lower, some NBFCs and housing finance companies may still evaluate your profile with a higher down payment or an eligible co-applicant. Our advisors can evaluate which lenders match your situation.
Up to 30 years, which keeps the monthly EMI smaller.
Floating rates are generally lower and have no prepayment penalties for individual borrowers as per RBI rules. Fixed rates offer EMI certainty but usually carry a higher interest rate. Most borrowers choose floating rates, but we help you compare both options.
Yes. The lender releases the loan in stages as construction progresses, and checks the project’s approvals before sanction.
Yes. For higher loan amounts, adding a co-applicant can increase your eligibility or let you choose a longer tenure.
Yes. We specialise in NRI financial services and manage the documentation locally.
No. All processing fees, interest rates and bank charges are clearly explained upfront.
When the saving in interest from moving your loan to another lender is clearly more than the cost of moving (processing, legal and valuation charges). Your advisor compares the new offer with what you pay today before you switch.
Your credit report and score, income and its stability, existing EMIs, age, and the property’s legal title and valuation. A complete file with clear property papers speeds up the sanction.
Share a few details and an advisor will call you to check feasibility. Or call us on +91 77009 44833.
