Compound interest means the interest applied not only to the principal but also to the accrued interest from the past. It is commonly known as interest on interest and may apply to loans or deposits.
For instance, say you invest ₹.100 in a fixed deposit for 3 years. In the first year, say you earn ₹.10 as interest. With compound interest, the interest in year two is calculated at Rs.110 and not Rs.100. This way, compound interest allows you to earn more.
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Fibe's personal loan EMI calculator is your reliable tool to determine your loan EMI in just a few minutes and some simple steps. Fibe offers personal loan of up to Rs 5 lakhs with minimal documentation and quick processing. Coupled with interest rates as low as Rs 9/day, this is by far your most compelling credit option in the market. Calculate your monthly repayments based on your sanctioned loan amount and interest rates using this handy EMI calculator that's operate and easy to understand. With Fibe, you can even prepay your loan amount with no additional charges.
Your EMI Amount is
₹
13,107
Loan Amount
₹145,000
Min
Max
₹8,000
₹10,00,000
Interest rate
14%
12
30
Select EMI option
12 Months
3
36
Months
Months