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In the rest of the post, I will consider loans where the interest rates are fixed for the entire loan. Benefits of Fixed Rate Loans over Floating Rate Loans Interest rate remains fixed for the duration of your loan. You are not bothered even if the interest rates are rising. You know your EMI for the entire duration and you can budget. Drawbacks of Fixed Rate Loans The rate of interest in a fixed rate loan is certainly higher than interest in floating rate loan. For instance, currently ... Manufacturers and sellers lure buyers with low EMI payments and buyers fall into the trap without understanding the interest rate for such loans. Given the loan amount (i.e., item price), EMI and tenure, this calculator helps you estimate the interest rate on such loans. When you purchase an under-construction property, your bank may link the disbursal of home loan to the construction stages of the property. In such cases, you will either be asked to pay pre- EMI OR given an option to choose between pre- EMI and full EMI payments. What is Pre- EMI ? As you are probably aware, Equated Monthly… Continue Reading You can calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator . Enter the following information in the EMI Calculator :
