How do I calculate the loan EMI

Share
Share This Thread
  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/
     
  5. Ankit Shrivastava

    Ankit Shrivastava New Member

    If any borrower calculate your loan EMI then they easily figure out your repayment capacity and also plan for all the repayments.There are three methods to calculate loan EMI:

    1. Formula Based:
    The Loan EMI to be depends on three factors- total loan amount, duration of loan borrowed and rate of interest. A basic formula is used to calculating the loan EMI is bellow-

    E = P x r x (1+r)n / ((1+r)n – 1)

    where,
    E = Each month payable EMI
    P = Principal loan amount
    r = Rate of interest
    n = Duration of the loan

    2. Excel Based:
    You can also calculate their EMI amount with the help of excel sheet. But you need to set the above formula in excel and make sure that entered digits are right .

    3. On-line EMI calculator:
    If you feel that the above to steps are complex to calculate the EMI and also chance of mistake then you need to use online business loan EMI calculator. With the help of EMI calculators you can calculate you loan EMI very easily. There are many new age Fintech lenders which offer free loan EMI calculator.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
How do I calculate EMI on home loan? Personal Finance Aug 11, 2016
How to calculate my Personal loan EMI on line? Personal Finance Mar 9, 2016
Does any bank provide a doctor loan without any security? Personal Finance Friday at 6:35 PM
What are the benefits of business loans? Personal Finance May 10, 2018
What are some important things that should I check before availing a personal loan in Bhopal? Personal Finance Apr 16, 2018