Core Calculators
Consumer Loan Calculator
Calculate EMI for consumer durable and gadget loans
Loan details
₹
₹
%
yrs
Monthly EMI
₹0
How consumer loan EMI works
Point-of-sale and consumer durable loans use the same EMI math with shorter tenures.
EMI = P × r × (1+r)n / ((1+r)n − 1)
Why use it
Detailed features
Bank-standard
Reducing-balance EMI formula.
Interest breakdown
See total interest and repayment.
Instant results
Updates as you type.
On the go
Also in the Toolance app.
Frequently asked questions
It is finance for items like TVs, refrigerators, ACs and phones, often at the shop counter. Tenure is short, from a few months to 2 or 3 years, and rates can be higher than home loans.
Often the interest is hidden in the product price or paid as merchant discount to the lender. Compare total outgo with a cash price before you choose EMI.
Same reducing balance formula as other loans: principal, annual rate and tenure fix the monthly EMI. Enter the financed amount after any down payment at checkout.
Yes if reported to credit bureaus. Timely EMI helps your score; missed payments hurt it even on small ticket loans.
Many POS lenders allow foreclosure with a small fee. Check your agreement; on short tenures the savings may be modest.
GST applies on product value as per category. EMI is a payment mode, not a separate tax. Your invoice should show tax on the selling price.
Use it to sanity-check the offer. Read the lender's terms on the invoice. This is not financial advice.
Yes. No registration. Plug in amount, rate and months while you compare store offers.