Conveniently pay your EMIs, set payment reminders, view your loan details.
by Mahindra Finance
October 11, 2023
|1 mins read
To calculate your Utility Vehicle Loan EMI manually, you can use this formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
For example, if you take a loan of ₹10 lakhs at an interest rate of 10% per annum for a period of 5 years, your monthly EMI would be ₹2,151
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