Frequently asked questions
Last updated
The questions we hear most about the calculators, the stories and how they work.
Common questions
Is the EMI calculator free? Do I need to sign up?
Yes, every calculator is completely free and needs no sign-up or login. The calculators run entirely in your browser.
How accurate are the results?
The engine uses the standard reducing-balance formula and is unit-tested against independently computed values. It's an accurate estimate of the core instalment. Your lender may round the EMI and add fees (processing, insurance, GST), so confirm exact figures on your sanction letter.
Do you store the numbers I enter?
No. Calculations happen in your browser and aren't sent to us. The site carries no advertising or tracking scripts, so nothing about your loan figures leaves your device.
Is emi.me a lender? Can you give me a loan?
No. emi.me is an independent publication with calculators. We are not a bank, NBFC, broker or loan aggregator, and we don't arrange loans or charge for anything.
Do you use reducing balance or flat rate?
Reducing balance — the standard for retail loans, where interest is charged only on the outstanding balance. If a lender quotes a flat rate, convert it first: a flat rate is much costlier than the same-numbered reducing-balance rate.
Why is my bank's EMI slightly different from yours?
Usually because the bank rounds the EMI to the nearest rupee, uses a particular day-count convention, or has added fees and insurance into the financed amount. The underlying reducing-balance maths is the same.
Does the calculator include processing fees, GST or insurance?
No — it shows the pure principal-and-interest instalment. Lender charges like processing fees, GST and bundled insurance are separate and vary by lender, so add them on top when budgeting.
Can I model a prepayment or part-payment?
Yes. On the EMI and loan-type calculators, switch on a prepayment to add a lump sum or a monthly extra, and choose whether the saving cuts your tenure or your EMI. You'll see the interest saved and new payoff date instantly.
Should I prepay my loan or invest the money instead?
It depends on whether you can reliably beat your loan rate after tax. Our prepay-vs-invest calculator compares both and shows the break-even return; as a rule, prepaying is a guaranteed, tax-free return equal to your loan rate.
Can I save or share a calculation?
Yes. Each calculator has a "Share these numbers" button. It builds a link on your device, tells you exactly which values the link will contain, and opens pre-filled for whoever you send it to. Nothing is added to the address bar until you ask.
Are the stories on emi.me true?
No. Every story is fiction: the people, lenders, conversations and events are invented. The numbers inside them are real calculations from the same tested engine as the calculators, using assumptions listed beside each figure.
Is emi.me against loans?
No. Borrowing is sometimes the best available choice and sometimes an expensive one. The stories and tools here show the trade-offs on both sides and leave the judgment to you.