EMI Calculator - Loan EMI Calc 3.0

EMI Calculator - Loan EMI Calc 3.0

EclatSol  ❘ Freeware
Android
out of 291 votes
Latest Version
3.0
Safe to install
VERY GOOD User Rating

The EMI Calculator offers a convenient and efficient solution for Loan EMI calculations.

What is an EMI?
When obtaining a loan, individuals are obligated to pay interest on the borrowed amount. These monthly payments are called Equated Monthly Installments (EMIs) and must be made routinely until the loan term reaches completion, resulting in full repayment of the loan.

How is EMI calculated?
The EMI calculation formula is as follows:

EMI = P × r × (1 + r)n/((1 + r)n - 1)

Where,
P = Loan amount,
r = interest rate,
n = tenure in number of months.

Our thorough Loan EMI Calculator not only provides information on EMI for various loans such as Home Loan, Car Loan, Property Loan, Personal Loan, and Mortgage Loan but also includes details on factors like choosing between rented or owned property, potential interest and tenure savings through additional payments on EMIs, considerations for loan balance transfers, tax benefits from a home loan, and calculating real interest rates with inflation factored in.

The application also offers valuable insights into essential aspects of loan acquisition such as CIBIL scores, EMI-affecting circumstances, credit parameters, dual-rate home loans, factors determining home loan tenures, KYC norms for loans, managing loans during rising interest rates, stages of loan proposals, and preparatory steps before applying for loans.
Utilize this tool not only for EMI evaluation but also for strategic financial planning. It aids in decisions regarding property purchases, loan transfers, prepayment considerations, and more.

The app features EMI calculators tailored for Home Loans, Personal Loans, Property Loans as well as additional financial utilities including Rent Vs Buy comparisons, Home Savings calculators, Balance Transfer estimations, Tax Saving calculations, and effective rate evaluations - all consolidated within a single accessible platform.

Download the application to access:
- Interest Calculation
- EMI Computation
- Savings Estimations on Interest, Tenure & Taxes
List of finance calculators available:
- EMI Calculator
- Advanced EMI Calculator
- Loan Comparison Tool
- Flat vs. Reducing Rate Calculator
- Rent Vs Buy Comparison Tool
- Home Saver Calculator
- Balance Transfer Calculator
- Tax Saving Calculator
- Effective Rate Calculator
Features of the EMI calculator:
The calculator is cost-free and user-friendly
Advanced EMI computation capabilities
Distinguishes between Flat vs. Reducing schemes
Facilitates loan comparisons to aid optimal decision-making processes
Includes an Effective Rate Calculator
Allows seamless loan applications directly through the platform.

What is the Amortisation Chart/Schedule?
An amortisation chart/schedule predicts monthly loan repayment amounts by illustrating how payments are allocated between principal and interest components.

This display details the portions allocated to interest paid, principal repaid, and remaining balance after each payment date.

What types of EMIs can be calculated?
This application supports calculations for Home Loan EMIs, PL EMIs (Personal Loans), Car Loan EMIs, Marriage Loan EMIs, Student Loan EMIs, among others.

What are the elements of EMI?
The fundamental components of an EMI are the Principal and Interest amounts. The Principal denotes the borrowed sum from a lender while Interest signifies the accrued payment associated with the borrowed amount.

Overview

EMI Calculator - Loan EMI Calc is a Freeware software in the category Business developed by EclatSol.

The latest version of EMI Calculator - Loan EMI Calc is 3.0, released on 05/25/2024. It was initially added to our database on 05/25/2024.

EMI Calculator - Loan EMI Calc runs on the following operating systems: Android.

Users of EMI Calculator - Loan EMI Calc gave it a rating of 4 out of 5 stars.

Screenshots (Click to view larger)

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Important Disclaimer: This application is not affiliated with any government entity and does not represent or endorse any official government programs. It is not an official NCERT application.