A loan EMI calculator is a useful tool for individuals who want to calculate their Equated Monthly Installment (EMI) for a loan. This calculator takes into account the loan amount, interest rate, and tenure to provide an accurate calculation of the monthly installment that needs to be paid. By using this calculator, individuals can plan their finances effectively and determine whether they can afford the loan. The EMI calculator also helps in comparing different loan options by adjusting the loan amount, interest rate, or tenure to see how it affects the monthly installment. It simplifies the process of loan planning and allows individuals to make informed decisions about their finances.