Loan Calculator

EMI Calculator

Amount

Interest Rate

Tenure (in months)

Loan EMI

123

Total Interest Payable

1234

Total Amount

12345

What is Loan?.
The Money or material goods that is given to another party in exchange for future repayment of the loan value plus interest and other finance charges. 
In this post I will tell you about Loan EMI calculator, managing finances has become more accessible than ever. Online loan calculators empower users.

Type of Loan like personal, commercial, secured, unsecured loans. 

Processing Steps of Loan?
when you want loan, you apply for  loan form a Bank other corporation, you need to correct details such as, such as why you need loan, you have to provide your financial history and other related documents. Your loan application verified and checked, if you can pay the loan back to them, Based on your application, it will approve or den the application.

if your application get approval a agreement is signed the will be credited to your Bank account.

What is an Interest Rate?.

The interest rate is the amount a lender charges a borrower and is a percentage of the principal amount of loan. The interest rate of loan is calculated on annual basis (APR) ANNUAL PERCENTAGE RATE.

What is a Term (year)

Loan Term is the duration of a loan until it is paid, Loan can be Long term or Short Term
Example: 12 months, 24 months, 36 months etc..

Equated Month Installment Calculation

Actual Amount = 8,00,000/-  House Purchase

Payed Payment = 3,00,000/- Down Payment

Loan amount     = 5,00,000/- Loan Amount

Tenure (time)    = 5 Years (60 months)

Rate of Interest =9% ( 9/100 = 0.09)

EMI Formula = L.A * Rate of Interest (Digit) * Years + L.A 

                                Time (month)

=5,00,000*0.09*5+5,00,000

                      60

=7,25,000        = 12.083.33 per month installment

         60