What is Marriage Loan EMI?
A marriage loan is a personal loan taken to cover wedding expenses — venue, catering, jewellery, honeymoon. It's unsecured, disbursed in 2-7 days, and typically ranges from ₹50,000 to ₹40 lakh with tenures of 1-6 years.
Formula
The standard amortizing EMI formula:
EMI = P × r × (1 + r)^n / [(1 + r)^n − 1] P = loan principal r = monthly interest rate (annual ÷ 12 ÷ 100) n = tenure in months
How to use this calculator
Enter the total loan amount, the bank's offered rate (10.5-18% based on your credit score and income) and comfortable tenure. Longer tenure lowers EMI but sharply increases total interest paid.