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# Bank EMI Calculator – Compare Loan Installment

Bank EMI Calculator – Compare Loan Installment of different banks including SBI,PNB,Bank of India,Syndicate Bank, Bank of Baroda, Canara Bank, Axis Bank, HDFC Bank, Yes Bank. EMI Calculator of Personal loan , Housing Loan, Car Loan of different banks.

## How Does RBI Rate Cut Impact EMI of Loan ?

Calculate and Compare the benefit on EMI after the Rate cut by RBI. This calculator compare and calculate the benefit of reduced EMI.

How Does This EMI Calculator work ?

This Loan EMI calculator follows the following formula in order to calculate the EMI. Customer need to provide the details related to their principal loan, Interest rate as per the bank, the duration of the loan. The basic formula that works behind an EMI calculator is:

E = P x r x (1+r)^n/((1+r)^n – 1)

P = Principal

r = Rate of Interest Yearly; calculated monthly i.e. ROI/1200

n = Number of Installment i.e. Month