Hello, guys in this post you’ll learn everything you need to learn about the free DN Tools EMI Calculator. You get how the EMI is calculated and what’s its pros and cons. at last you will also learn about the no-cost EMI or zero EMI option. Also, we review our EMI Calculator app so you can use it to calculate EMI, and compare different EMI options in just one app. So, let’s see what is EMI and its importance in your personal finance.
EMI finance calculator
EMI is known as a financial tool to buy products or services. Without paying the full amount at once. Instead of paying it with simple monthly or quarterly installments. Which makes buying thighs easier for general users.
This tool is very helpful if you are purchasing a car, house, or any other product or service which requires a large amount of money. Nowadays everyone is familiar with EMIs and most of the online punching is done by EMI using debit or credit cards.
What’s EMI and how to calculate EMI:
EMI is a short form of Equated Monthly Installment. EMI nowadays is a very common and easy-to-use financial tool for users. You can choose the EMI option for products you buy from Amazon, Flipkart, eBay, or any online and offline store which gives you the EMI option.
In the EMI option for any product you buy you just pay a small portion of the amount and the rest will be paid off by your Bank. But after this, you’ll pay small monthly payments to your bank with the interest of the entity which gives you the EMI option. Most of the time it’s the bank that provides you EMI with some specific products like mobile phones, smart tv, house, car, etc.
This monthly payment is deducted from your account every month with the principal amount and interest. Which is shown to you when you select the EMI option. There’s also a NoCost EMI option available on some products. Which does not include interest on the principal amount. You just pay the full price of the product in simple monthly payments.
Cons of EMI:
You need to read all scheme-related documents carefully. Because it’s very tricky and the policy may include some terms and conditions. Which can cost you more than the price you pay for the product.
For example, the penalty for missing the date of payment is higher. Or the interest rate is very high. Or some EMI or no-cost EMI schemes include some period where they change less interest or no interest. But after that period they charge you very high interest. Which costs you lots of money. And in the end, you pay a lot more than the actual price of the product.
Calculate Your EMI:
Where E stands for Equated Monthly Installment (EMI). P stands for Principal Loan Amount and r stands for rate of interest on a monthly basis.
How To Use (DN Tools) EMI Calculator?
You can install (DN Tools) a Free EMI Calculator tool from the play store. Then click on the EMI Calcy button and enter the loan amount which you want to calculate EMI. After you need to enter the Interest rate you’re paying to that Loan Amount.
Enter the time you’re going to pay off the loan amount. Here you need to enter time in years and months. If the period is just one year enter 1 in the year section and 0 in the month section. After filling all the options click on the CALCULATE EMI button.
You’ll be able to see results on the bottom section of the app. You can see the Monthly EMI you need to pay. And the total interest you’re going to pay for that Loan Amount. Also, the total payment you’re going to pay combines the interest and the loan amount. You’re going to pay for that period.
Pro Tip: If you want to reduce the interest rate. Pay the highest down payment and get rid of the loan as soon as possible.
EMI Calculation Example.
Suppose you’re planning to buy a car which is getting a price range of approx 3600000 (3.6m). So, if you can use EMI options to buy that car. But you need to choose the right EMI option for your car loan so you get maximized profit from your EMI option. Suppose you have 2 different bank accounts and each of them has different rates of interest and time period for EMI.
The first bank gives you the 9% interest on EMI loan for your car and the time period is 6 years. On the other hand, the second bank offers you 9.5% interest on EMI but its time period is 4 years less than the first bank. These are just assumptions to give you some basic understanding.
In this case, you can use the EMI loan compare option of our DN Tools EMI Calculator app. So let’s see how you can use these loan comparison features.
Car Loan compare Example.
1 Install and open the DN Tools EMI Calculator App from the play store.
2 Open the loan compare option.

3 Enter all the EMI, interest, the period for both EMI loans options.

4 Press the calculate button to see the result.
5 And use the reset button to clear all the values.

How To Get Best EMI Option
So as you see there are different results with different EMI options. The choice is yours which EMI option is best for you. If you go with 9.5% interest with less period then you need to pay a large amount as monthly EMI
And on the other hand, if you want to go with a 9% interest rate but for a long period then you need to pay high interest for your loan amount. If you ask me I’ll go with a 4 year period because you don’t want to pay interest for the long term. So with this method, you can also save your money and time.
So, you can install our app and please give this app your important review which helps users to make the right decision. Also, share this app with your friends and family members on WhatsApp or Facebook, etc.
What is NoCostEMI?
The basic concept behind the NO COST EMI is that, when you purchase any product with an online store or retail shop they provide your NoCost EMI 0% interest EMI option. They have tie-ups with specific banks and whenever the store sells any product with NO COST EMI option the store uses to pay some profit directly to the banks.
Also, with the convenience of No Cost, EMI people buy more units and sellers make more profits. This way they create win-win-win situations for buyers, sellers, and for banks.
But there are some cons of No Cost EMI also there. If you don’t read all the scheme-related documents carefully. You may get some different deals, for example, they used to say it’s NO Cost EMI but it’s just for 4 or 6 months after that they cage 18% interest or higher on the leftover EMIs.
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