{"id":3037,"date":"2020-03-27T06:09:58","date_gmt":"2020-03-27T06:09:58","guid":{"rendered":"https:\/\/www.indifi.com\/blog\/?p=3037"},"modified":"2026-06-08T11:26:30","modified_gmt":"2026-06-08T11:26:30","slug":"top-10-tips-for-simplifying-emi-calculations-on-your-loan","status":"publish","type":"post","link":"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/","title":{"rendered":"Top 10 Tips For Simplifying EMI Calculations On Your Loan"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/03\/10-Tips-For-Simplifying-EMI-Calculations-300x300.png\" alt=\"\" class=\"wp-image-3038\" srcset=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/03\/10-Tips-For-Simplifying-EMI-Calculations-300x300.png 300w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/03\/10-Tips-For-Simplifying-EMI-Calculations-150x150.png 150w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/03\/10-Tips-For-Simplifying-EMI-Calculations.png 512w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption>10-Tips-For-Simplifying-EMI-Calculations<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">There are various times in life when you may require loans, especially if you are a businessperson. The need to take <a href=\"https:\/\/www.indifi.com\/business-loan\" target=\"_blank\" rel=\"noreferrer noopener\">business loans<\/a> can arise due to many reasons like when you have to buy machinery or heavy equipment, purchase property for expansion of the business or to pay creditors. There are a number of banks and non-banking financial companies (NBFCs) that lend at competitive rates, and you must look at their offerings, their conditions and do your own EMI calculations before taking a loan. To return the loan, you must be watchful and keep an eye on the opportunities that may lower your EMI burden. The top 10 tips for simplifying EMI calculations on your loan are given below:<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#How_To_Calculate_EMI_on_Loan\" >How To Calculate EMI on Loan?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Online_Tools_For_EMI_Calculations\" >Online Tools For EMI Calculations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Keep_a_Check_on_your_Interest_Rates\" >Keep a Check on your Interest Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Take_Help_From_Your_Relationship_Manager\" >Take Help From Your Relationship Manager<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Keep_An_Eye_On_Rates_Offered_By_Other_Banks_Or_NBFCs\" >Keep An Eye On Rates Offered By Other Banks Or NBFCs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Keep_All_Loan_Documents_Handy\" >Keep All Loan Documents Handy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Maintain_Proper_Records_Of_Loan_Return\" >Maintain Proper Records Of Loan Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Always_Plan_Ahead\" >Always Plan Ahead<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Keep_Reminders_On_Your_Mobile_Phone\" >Keep Reminders On Your Mobile Phone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Talk_To_Your_Lender_For_Lowering_Rates\" >Talk To Your Lender For Lowering Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.indifi.com\/blog\/top-10-tips-for-simplifying-emi-calculations-on-your-loan\/#Talk_To_Finance_Experts\" >Talk To Finance Experts<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_To_Calculate_EMI_on_Loan\"><\/span>How To Calculate EMI on Loan?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Online_Tools_For_EMI_Calculations\"><\/span>Online Tools For EMI Calculations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There are many tools available online these days that can help you in EMI calculations so that you can make up your mind as to how much burden will there be every month for loan return. You can take advantage of these free tools.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color wp-block-paragraph\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/effective-ways-to-manage-overhead-costs-for-smes\/\">Effective Ways To Manage Overhead Costs For SMEs<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Keep_a_Check_on_your_Interest_Rates\"><\/span>Keep a Check on your Interest Rates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Always keep an eye on the movement of the interest rates prevalent and also on the change in interest rates in your specific case, if any. Many times, a loan is taken on floating rates and the rates change from time to time over the repayment period, and you must keep calculating the EMIs correctly to arrive at the correct monthly outgo figure.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Take_Help_From_Your_Relationship_Manager\"><\/span>Take Help From Your Relationship Manager<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Many banks and NBFCs assign a relationship manager for all their customers who take loans. Take help from the relationship manager in calculating your EMIs, especially if there is a change in the interest rate levied to you from time to time.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color wp-block-paragraph\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/how-nbfcs-are-changing-the-business-loan-landscape-in-india\/\">NBFC \u2013 How They Are Changing The Business Loan Landscape In India?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Keep_An_Eye_On_Rates_Offered_By_Other_Banks_Or_NBFCs\"><\/span>Keep An Eye On Rates Offered By Other Banks Or NBFCs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you have already taken a loan and are paying your EMIs, keep an eye on the interest rates offered by other banks and NBFCs. If there is a bank or NBFC that is offering lower rates, then you can switch your existing loan to a new bank or NBFC. But before you do that, do your EMI calculations for the new bank properly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Keep_All_Loan_Documents_Handy\"><\/span>Keep All Loan Documents Handy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you have already taken a loan, keep all your loan documents at a place where you can easily reach out for them so that you can quickly refer to them as to when there will be a change in interest rates. Many loans come with specific time intervals when the interest rates can be changed. You must be aware of the changes in interest rates applicable and do your EMI calculations accordingly.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color wp-block-paragraph\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/factors-that-affects-business-loan-application\/\">Business Loan Application \u2013 Factors Affecting It<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Maintain_Proper_Records_Of_Loan_Return\"><\/span>Maintain Proper Records Of Loan Return<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Make proper records of the EMIs that you have already paid to return the loan that you have taken. Make sure to tally your records with the records of the bank from which you have availed the loan. Any discrepancy should be immediately brought to the notice of the bank.&nbsp;&nbsp;&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Always_Plan_Ahead\"><\/span>Always Plan Ahead<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The EMIs may vary from time to time, especially if the loan is taken on a floating rate. Always keep a plan for loan return in time to avoid any penalty. Stick to the plans as much as possible.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Keep_Reminders_On_Your_Mobile_Phone\"><\/span>Keep Reminders On Your Mobile Phone<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The smartphones these days allow you to keep reminders for just about anything. Keep alarms for specific dates on your phone when a new interest rate is about to kick-in for the loan you have taken if there is a fixed periodicity for such a change. This will help you in your EMI calculations better.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color wp-block-paragraph\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/best-tax-saving-practices-for-shop-owners\/\">Tax Saving \u2013 Best Practices For Shop Owners\ufeff<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Talk_To_Your_Lender_For_Lowering_Rates\"><\/span>Talk To Your Lender For Lowering Rates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you have already taken a loan, talk to your bank for lowering the rates, especially if you have a good history of repaying the EMIs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Talk_To_Finance_Experts\"><\/span>Talk To Finance Experts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sometimes, experts like a Chartered Accountant (CA) can point out how best you can plan loan return and the size of the EMIs. There are loans like home loans that qualify for deductions for tax computations, and a CA can guide you in such matters.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A little prudence on your part can be really helpful in the successful closure of a loan without any penalties of default. Be careful while choosing which bank or NBFC you are taking the loan from. Indifi.com is a well-established player in the loans business and can come up with good repayment terms for your loans. <a href=\"https:\/\/www.indifi.com\/\">Indifi.com<\/a> has a number of loan offerings to suit modern-day businesses and has a well-qualified team of experts to suggest the best option for you. Its process for loan approval is quite simple.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color wp-block-paragraph\"><a href=\"https:\/\/www.indifi.com\/business-loan-emi-calculator\">Calculate Monthly EMI<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are various times in life when you may require loans, especially if you are a businessperson. The need to take business loans can arise due to many reasons like when you have to buy machinery or heavy equipment, purchase property for expansion of the business or to pay creditors. There are a number of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[710,713,712,711],"class_list":["post-3037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-10-tips-for-simplifying-emi-calculations","tag-emi-calculations","tag-simplifying-emi-calculations","tag-top-10-tips-for-simplifying-emi-calculations-on-your-loan"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/comments?post=3037"}],"version-history":[{"count":5,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3037\/revisions"}],"predecessor-version":[{"id":5587,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3037\/revisions\/5587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media\/3038"}],"wp:attachment":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media?parent=3037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/categories?post=3037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/tags?post=3037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}