Use our Rate of Interest Calculator to estimate the rate of interest based
on your EMI, principal amount, and loan tenure.
Rate of Interest Calculator
Interest Rate Result
Rate of Interest:-
Total Payment:-
Total Interest:-
Frequently Asked Questions (FAQ)
FAQ
The rate of interest is the percentage charged on the total loan amount by the lender.
It is the cost of borrowing the principal amount.
The rate of interest is calculated based on the principal amount, loan tenure, and EMI.
The formula for the rate of interest is derived using the total payment, principal, and
tenure.
Knowing your interest rate helps you understand the cost of borrowing money. It affects
the total repayment and monthly EMI.
While a higher interest rate increases your monthly EMI and total payment, it may
sometimes be unavoidable due to your credit score, loan term, or market conditions.
To reduce your loan interest rate, consider improving your credit score, opting for a
shorter loan term, or negotiating with your lender.
A higher interest rate increases your EMI, while a lower interest rate reduces your EMI,
making it more affordable over the loan tenure.