EMICalculator.site
Loan EMI Calculator
Android app: Calculate emi with this all-in-one calculator.
Sample EMI calculation for a loan of 100000 for 12 months at 11.5% per year
EMI: 8861.51, Total Interest: 6338.12
Loan repayment schedule
Sl. | Interest | Principal | Balance |
---|---|---|---|
1 | 958.33 | 7903.18 | 92096.82 |
2 | 882.59 | 7978.92 | 84117.9 |
3 | 806.13 | 8055.38 | 76062.52 |
4 | 728.93 | 8132.58 | 67929.94 |
5 | 651 | 8210.51 | 59719.43 |
6 | 572.31 | 8289.2 | 51430.23 |
7 | 492.87 | 8368.64 | 43061.59 |
8 | 412.67 | 8448.84 | 34612.75 |
9 | 331.71 | 8529.8 | 26082.95 |
10 | 249.96 | 8611.55 | 17471.4 |
11 | 167.43 | 8694.08 | 8777.32 |
12 | 84.12 | 8777.39 | 0 |
Bank Loans and EMI
In general, banks finance upto 90% of the cost of a property or vehicle; the loan amount is paid back with an equal amount every month. EMI, short for equated monthly installments, is the monthly repayment amount for loans taken from banks and NBFCs. The calculation of EMI is the same for all kinds of loan; be it, home loan, car loan or personal loan.
Formula
The formula for calculating EMI is based on the formula for present value of annuity:-
E = A . r(1+r)n / ((1+r)n - 1)
Where,
A = Amount borrowed
E = EMI or Monthly payment
r = interest rate in % divided by 12
n = total number of months
A = Amount borrowed
E = EMI or Monthly payment
r = interest rate in % divided by 12
n = total number of months
Loan Amortization Schedule
The repayment of loans through regular payments is also called amortization. The amortization schedule will tell you the total interest paid and the amount of outstanding loan after each payment.
Hey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at Home Loan EMI Calculator for more information.
ReplyDeleteThank you for sharing! It is really worth sharing and I'm glad that it helps me get the best Personal Loan EMI Calculator services from EarlySalary & it is great.
ReplyDeleteThank you for sharing! It is really worth sharing and I'm glad that it helps me get instant personal loans from EarlySalary & it is great.
ReplyDeleteVery helpful information has been shared in this article.
ReplyDeleteIf anyone is looking for quick business loans? Check this article for it: quick loans
Its great to know about this blog, Appreciate your efforts with such a valuable information provided. Could you help me to find out details about Education Loan Emi Calculator.
ReplyDeleteHi,
ReplyDeleteI, William Roberts, have in-depth knowledge about investments and the financial planning sector and have been explaining these concepts to citizens in simple terms. I write various articles on things such as a few things about hedge funds that you probably did not know
For more information visit my site. Click Here.
Blog was amazing and worth a while. Click to know moreEducation Loan For Abroad
ReplyDeleteThanks for giving us such useful information on education loans
ReplyDeleteEducation Loans For Study Abroad