How do I calculate the loan EMI

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  1. RavijShankar

    RavijShankar New Member

    I'm not sure what would exactly help me can any one explain the method of calculation for EMI
     
  2. Arwind Sharma

    Arwind Sharma New Member

    Use this formula for calculating the loan emi

    EMI = (L*I)* {(1+I)^N / [(1+I)^N]-1}

    Where

    L = loan amount
    I = interest Rate(rate per annum devided by 12)
    ^ = to the power of
    N = Loan Period in months

    [​IMG]

    If you are unable to get accurate output and face any kind to the problem during to perform this manual process then you can opt personal loan EMI calculator with this you can calculate any Loans EMI, just you need to give some inputs like: Interest rate, Loan amount, Tenure and Processing Fee, then you will get Monthly EMI and Total Amount Payable.




     
  3. gudiya

    gudiya New Member

  4. This formula will help you to calculate EMI on the basis of your loan:

    [P x R x (1+R)^N]/[(1+R)^N-1

    where P stands for the loan amount or principal,

    R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)],

    and N is the number of monthly instalments.

    http://emicalculators.in/
     
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