Is an Agri Loan EMI Calculator applicable to all types of agricultural loans?

Yes, agricultural loan EMI calculators can be applied to most types of farm loans available in India.

EMI calculators help estimate the equated monthly instalments to be paid based on the loan amount, tenure, and interest rate. This works for long-term loans like investment credit for farm machines, livestock, irrigation, etc., taken from financial institutions. Farmers can use the EMI calculator to check if they can afford the loan repayment instalments.

Short-term crop loans are usually repaid in lump sum rather than EMIs. However, some financial institutions also offer Kisan Credit Card loans in fixed EMIs. In such cases, the EMI calculator comes in handy.

The calculator also works for loans taken for poultry, dairy, or fisheries if they are taken for longer tenures of 3-5 years. However, variable interest rate loans will have changing EMIs, so the calculator can only provide an indicative figure.