The EMI/Payment calculator is used to calculate the accurate amount to be paid each month for the loan taken by you. If you have a desired loan amount, your desired interest rate, and your ideal loan tenure, our this EMI Calculator can give you the Equated Monthly Installment (EMI) that you will have to pay.
What you can get here is a benchmark to measure various lenders against. Compare the EMI amount you arrive at using this EMI Calculator with the EMIs offered by different lenders. It will help you to understand exactly what the interest rate offered by each lender is, and thus negotiate for a better deal.