Find Your Interest Rate
Enter your EMI, Loan Amount, and Tenure to get the annual interest rate.
What is an Interest Rate Calculator?
An Interest Rate Calculator helps you find the effective annual interest rate based on your loan EMI, loan amount, and tenure. It's useful when you already know how much you are paying monthly and want to know the interest being charged.
How Does an Interest Rate Calculator Work?
It uses an iterative calculation method to find the interest rate that would result in the given EMI for a specific loan amount and tenure. Since there's no direct formula to calculate the rate, the calculator uses a numerical approach to approximate the rate.
Why Use an Interest Rate Calculator?
- Find hidden charges or compare different lenders' offers.
- Understand how much you are really paying in interest.
- Get better control over your finances by knowing exact costs.
What Do You Need for Interest Rate Calculation?
- EMI (Equated Monthly Installment)
- Loan Amount
- Loan Tenure (in years)
Conclusion
Interest Rate Calculators help you understand the real cost of borrowing. It enables smart loan decisions, helps you avoid hidden costs, and ensures better financial planning. Use it whenever you want to reverse-calculate the interest rate based on EMI.