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Does the thought of repaying loans, calculating EMIs, and setting up payment schedules sound like a nightmare to you? Do you find an EMI Calculator in Excel confusing because of the array of formulae used? Where do you get an EMI Calculator with the down payment?
If such questions haunt you, then this EMI calculator app is perfect for you!
EMI, or Equated Monthly Instalment, is the sum that needs to be paid every month to a bank or a lending financial institution until the loan is settled. EMI includes the principal amount and the interest accrued on the amount. The EMI Calculator app is a convenient tool that allows users to quickly calculate the EMI for loan and establish a payment schedule. Upon making use of the Calculator for Loan EMI, you can effectively pay back your loan and make financial plans according to the monthly cost.
The EMI Calculator has the following usages:
• EMI Calculator for Bike Loan - Get your own bike and be the master of your commute!
• EMI Calculator for Car Loan in India - Have a dream car? Make it yours in reality!
• EMI Calculator for Home Loan - Your home will always be your home, so get one now!
• EMI Calculator for Education - Education is the greatest investment, give it the importance that it deserves.
• EMI Calculator for Personal Loan - A personal loan can cater to all your monetary requirements.
Key highlights:
• Quick and accurate calculations - all you need to enter are the number of EMI, loan principal, prevalent interest rate, and duration of the loan and you will get the EMI amount in no time!
• EMI Calculator with Table displays the EMI calculated on a monthly basis represented by data in colorful formats such as pie, tables, and other charts, that can be easily understood even if you aren’t a financial expert.
• The EMI Calculator Online allows you to compare two loans and decide on the better option, thereby increasing your savings.
• Certain loans allow a grace period for the borrower during which they do not have to make any repayment - this is known as Moratorium. EMI Calculator with Moratorium allows you to factor in the additional interest accumulated during the moratorium period and accounts for the grace period too.
• Making a part payment affects the tenure of your loan, effective interest, and the EMI. EMI Calculator with Part Payment splits the EMI into interest payment and loan repayment sections for a specific period.
• Amortization refers to the reduction of a mortgage through regular payments. EMI Calculator with Amortisation formulates an Amortisation table displays the EMI split into the amount spent in repaying the principal and the amount dedicated to the interest. After every payment, it updates the table to the latest balance.
• Prepayments will allow you to repay your loan faster and decrease the total interest levied. EMI Calculator with Prepayment Option factors in the EMI and the effective interest if you make a prepayment on your loan.
• Certain co-operative societies and budding financial institutions offer loans at simple interest to benefit the stakeholders. On the other hand, most loans are calculated at compound interest, which means that if you have borrowed a sum at simple interest, a regular EMI calculator may not be useful. EMI Calculator with Simple interest that is in-built in the app allows calculation of EMI for simple interest.
• Under flat-rate borrowing, mostly in the case of personal loans, the interest is calculated off the borrowed sum without factoring the repayment. EMI Calculator with Flat Rate can help you calculate the EMI to settle a loan on flat rate interest. Normally, flat rate loans incur a higher EMI.
• Latest EMI Calculator with up to date information regarding bank interest rates from leading banks.
• The EMI computed by the EMI Calculator with Details can be easily shared in PDF format to plan loans.
simply Download EMI Calculator now and enjoy life!