MoneyTap EMI Calculator

Check the EMI for your MoneyTap Personal Loan by providing the Loan Amount, Interest Rate (per annum) & Loan Tenure (in months) details.

%
 Monthly EMI ₹86 Principal Amount ₹1,000 Total Interest ₹32 Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

MoneyTap offers a user-friendly experience by providing a 24/7 accessible personal loan EMI calculator. Now allowing you to calculate the EMI for your MoneyTap Personal loan swiftly and accurately. This calculator assists you in computing your loan payouts and planning a well-structured repayment plan for your MoneyTap loan.

Enter essential details such as the loan amount, interest rate, and tenure into the EMI calculator, you can easily determine your payable EMI. The calculator below instantly displays your EMI amount, along with a repayment strategy with MoneyTap loans.

MoneyTap Personal Loan EMI Calculation Formula

The formula used to calculate the Equated Monthly Installment EMI for a loan using the MoneyTap EMI Calculator is based on the general EMI calculation formula as mentioned below:

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]

Example:

P = ₹5,00,000

Annual interest rate = 13% p.a

R = 13% / 12 / 100 = 0.01083

Loan tenure in years = 3

Number of monthly installments (n) = 3 * 12 = 36

Where:

EMI = Equated Monthly Installment,

P = Principal loan amount

R = Rate of Interest,

N = Repayment tenure in months.

You can calculate the EMI for a loan of ₹50,000 with an annual interest rate of 18% and a 3-year tenure (36 months):

EMI = [500000 × 0.01083× (1 + 0.01083)^36] / [(1 + 0.010831)^36 - 1]

EMI = ₹16,487

So, the EMI for a ₹500000 loan with an annual interest rate of 13% as provided by Money Tap Personal Loan and a 3-year tenure (36 months) is approximately ₹16,487

Refer to the table for detailed EMI calculations on a MoneyTap Personal Loan of ₹5,00,000, showcasing an annual interest rate of 13%. The table displays EMI amounts for various repayment tenures, starting from 3 years.

Loan Amount (Rs.) Interest Rate (p.a.) Tenure (months) EMI (Rs./month)
₹5,00,000 13% 12 ₹6,873
₹5,00,000 13% 24 ₹23,771
₹5,00,000 13% 36 ₹16,847
₹5,00,000 13% 48 ₹13,414
₹5,00,000 13% 60 ₹11,377

How to Use MoneyTap Personal Loan EMI Calculator?

MoneyTap Personal Loan is a simple and efficient way to plan your loan repayments. However, to arrive at an instant result, you can follow these to use the Buddy Loan EMI Calculator.

• Step 1: Visit the EMI calculator page.
• Step 2: Input the required details, including the loan amount, interest rate, and loan tenure.
• Step 3: The calculator will generate a table presenting the calculated EMI based on the provided information.

Advantages of Using MoneyTap Personal Loan EMI Calculator

There are several advantages of using a Personal Loan EMI Calculator and here are a few of them that make your repayment journey seamless:

• Accurate Planning: plan your finances accurately by providing the exact EMI amount you'll need to pay.
• Financial Visibility: Provides a clear breakdown of your repayments, aiding in better financial management.
• Quick and Easy: Offers a user-friendly interface for swift and effortless EMI calculations.
• Budgeting Tool: Enables effective budgeting and ensures that the loan repayment fits within your financial capabilities.

Tips to Manage Your MoneyTap Personal Loan EMI Repayment

Managing your MoneyTap Personal Loan EMI repayment effectively is crucial to maintaining financial stability. Here are some tips:

• Budget Wisely: allocate a portion of your monthly budget specifically for loan repayment.
• Prioritize Payments: ensure that your EMI payments are a top financial priority to maintain a good credit score.
• Emergency Fund: have an emergency fund to cover unexpected expenses and prevent EMI defaults.
• Track Expenses: monitor and control your spending to have sufficient funds for EMI payments.
• Communicate with MoneyTap: in case of financial difficulties, communicate with MoneyTap to explore potential solutions or restructuring options.

Check other Banks EMI Calculator from below:

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Ready to take the next step? Apply for a Personal loan now!

It's a tool to calculate Equated Monthly Installments (EMIs) for personal loans from the MoneyTap EMI Calculator.

You can access the MoneyTap EMI calculator by following the steps mentioned above.

You will typically need to provide the loan amount, interest rate, and loan tenure (in months or years) to calculate EMIs using the MoneyTap EMI Calculator.

Yes, the MoneyTap EMI Calculator provides accurate EMI calculations based on the information you input.

Yes, the MoneyTap EMI Calculator should calculate EMIs for various types of loans or credit products offered by MoneyTap, providing versatility and convenience.

The MoneyTap EMI Calculator uses this standard EMI calculation formula EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]

Utilize the MoneyTap EMI Calculator for thorough and precise EMI computations as often as needed. It's available ‌ whenever you require help in calculating EMIs.

Depending on the features provided by MoneyTap, the calculator may allow you to estimate the impact of prepayments or changes in loan tenure on your EMIs.However, you can also use the Buddy Loan EMI calculator to have a better understanding of your EMI.

No, the EMI calculations from the MoneyTap EMI Calculator are for informational purposes only and are not binding for loan or credit approval.

Depending on the specific features of the MoneyTap EMI Calculator, there may be an option to save or print the calculated EMI details for future reference or loan application.

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