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## EMI Calculator India - AllBankingSolutions.com

Some loan calculations can be very simple, and the purpose of the **simple loan calculator spreadsheet** below is to demonstrate this with Excel. Unlike many of our other mortgage and loan calculators, our Simple Loan Calculator uses just the basic built-in financial formulas to calculate either the payment (using the PMT formula), the interest rate (using the RATE formula), the loan amount (using the PV formula), or the number of payments (using the NPER formula).

This loan calculator uses the PMT, PV, RATE, and NPER formulas to calculate the Payment, Loan Amount, Annual Interest, or Term Length for a fixed-rate loan. Useful for both auto and mortgage loans. See below for more information.

## Online Loan Calculator

You can use this online calculator to perform quick calculations, or you can download the spreadsheet to see how to use formulas in Excel.

## How to Use the Loan Calculator Spreadsheet

This calculator demonstrates 4 different types of loan calculations. Descriptions for each of the fields are provided below, as well as examples for how to use each of the options.

### Option A: Solve for the Loan Payment using PMT()

Use this option when **you know how much you need to borrow** and want to find out how the interest rate or term affects your payment. For example, a 5-year, $15,000 loan at 7.5% interest results in a monthly payment of $300.57. The total interest paid over the life of the loan is calculated to be $3,034.15.

### Option B: Solve for the Loan Amount using PV()

Use this option when **you know how much you can afford to pay each month** and want to find out how large of a loan you might get. Keep in mind that there may be other fees in addition to standard loan payment (principal interest), such as insurance, taxes, etc.

For example, with a $250 monthly payment, if you got a 5-year loan with a 6% interest rate, the loan amount is calculated to be $12,931.39.

### Option C: Solve for the Interest Rate using RATE()

It isn't as common to solve for the interest rate because you may not have any control over what your interest rate can be (other than shopping around for the best one). However, this option may be useful for academic purposes.

### Option D: Solve for the Term using NPER()

Use this option if you want to **pay off your loan early** by making extra payments. For example, refer back to the example for Option A. For the same loan amount and interest rate, if you pay $60 extra each month or $360.57, the term is calculated to be 4.03 years (instead of 5 as in option A) - meaning you'd pay off your loan almost 1 year early. You'd also end up paying about $600 less interest overall. This assumes that there are no penalties for making extra payments.

Some people prefer to get loans with longer terms and make regular extra payments. The benefit of this approach is that if you run into hard times, you can stop making the extra payments. The downside is that if you don't have the discipline to make the extra payments, you'll end up paying more interest overall.

## More Loan Calculators

**Disclaimer**: This loan calculator and the information on this page is for illustrative and educational purposes only. We do not guarantee the results or the applicability to your unique financial situation. You should seek the advice of qualified professionals regarding financial decisions becu auto loan

Want to know how much that new car will cost Just crack open Excel and load this spreadsheet.

It calculates your car loan payments and generates a payment schedule. You can also investigate how changing your loan conditions (such as the payment frequency or the term) affects the payment.

The spreadsheet is easy to use and navigate; required parameters are highlighted, and drop-down menus let you change the payment frequency and compounding period.

Just enter the loan amount, interest rate, loan term, first payment date, payment frequency and loan compounding period

AAfter you click a button, the spreadsheet calculates your

This alters the amount of each payment, and the total interest paid at the end of the loan. This flexibility means that you can use this calculator internationally. Just change the compounding period to suit!

This article describes how this spreadsheet calculates interest payments (the article is targeted at mortgages, but the theory and math is exactly the same) studentloans gov parent plus loan

**Download Excel Spreadsheet to Calculate Car Payments and Generate Payment Schedule**

### TI-84 Plus CE Graphing Calculator - US and Canada

Being associated with bank for short-term, I often get this question from friends and relatives. How to calculate EMI When you apply for loan, they will just tell you the EMI, but does not tell you how they are calculated unless you ask them specifically to show how they calculated it. EMI table is also called as amortization table, which shows the balance at each installment.

EMI or equated monthly installments is the most popular form of loan payment. It is a fixed amount of repayment made every month towards the loan, which includes payment towards both principal and interest.

It is easy to prepare an EMI table in Excel sheet. There is a financial function called PMT to calculate the EMI.

**rate** – Interest rate for the loan.**nper** – Total number of payments for the loan.**pv** – Present value/principal.

Prepare excel sheet with the following data and enter the PMT function in the cell “**C7**.”

Now prepare table with Serial Number of Payment, Monthly Installment, Interest Amount, Principal Amount, and Balance. Take the first row with serial number “0” and in the balance amount point the cell to “Loan Amount” – type “**=C3**” Next Enter the serial number as 1. Monthly installments will remain same so take absolute cell reference (by adding **$**) which will not change when you drag the cells to auto increment. In “Monthly Installment” column, enter “**=$C$7**“. In the “Interest Amount” column, enter “**=F10*$C$6/$C$5**” which means we are dividing the balance amount at the end of the month by monthly interest rate (rate of interest/payments per year). As the rate of interest and yearly payments are not going to change, we used absolute reference using **$** sign. In “Principal Amount” column type “**=C11-D11**” which deducts the monthly interest from monthly EMI and whatever the balance available shows as payment towards the principal amount. In “Balance” column enter, “**=F10-E11**“, which means we are deducting the principal amount in the EMI to ascertain the original balance at the end of the month upon which we are going to calculate interest for the next month. Now select the row and drag it until balance becomes “0”.

That’s all! We made our own EMI calculator in Excel. This Excel EMI calculator is created for a tenure of 20 years. If you are just calculating for 5 years, i.e., 60 months, 61st month shows values red colored and in minus range. So you need to take up to “**0**” in the balance column. Ignore the values in **RED**. If you want to calculate for more years, then just select the last row and drag it to extend it.

**Download the Simple Excel EMI Calculator.**

**Download the Excel EMI Calculator with Ad Hoc Payments.**

**Download the Excel EMI Calculator with Multiple Reimbursements.**

**Download the Excel EMI Calculator with All the Three Sheets.**

**Update – Oct 16, 2009:** Mr. **Parixit Namdhar**, one of my blog readers, suggested that instead of entering the formula “**=$C$7**” in column “**C**” entering “**=IF($B11>($C$4*$C$5),0,$C$7)**” solves the minus values problem. This formula makes the minus values zero making it easily understandable and looks neat. Thanks a lot Parixit!

**Update – April 22, 2012:** Mr. **Ravi Krishna**, one of my blog readers, updated the Excel sheet with ad hoc payments and multiple reimbursements, which a lot of readers were asking direct loan servicing center Thank you very much Krishna!

### Income tax calculator for India Download Excel based tool

Use this calculator to estimate your monthly payments on a single federal student loan or private student loan, calculate the total payment on multiple student loans at different interest rates, or calculate the total interest you’ll pay.

**» MORE:** Already have student loans Learn how to pay them off fast

**Student loan repayment calculator**

**How to use this calculator**

You’ll get the most accurate results if you enter your loan amounts separately with their precise interest rates, but you can also estimate or use the sample loan amounts and interest rate provided.You may have a mix of federal and private loans. If you don’t know how much you owe, search for your federal loans in the National Student Loan Data System or contact your private student loan lender.

This calculator assumes you’ll be paying monthly for 10 years once repayment begins, which is the standard term for federal loans and many private loans.

Enter the total amount you borrowed for each loan. You can enter up to three loans for each year you’re in school, up to four years. It’s possible to include 12 loans total.Click “Add another loan” to include additional loans in each year or select the next year. Select “I’m done” once you are finished adding all of your loans, then “Calculate” to get your results.

Enter the interest rate for each loan amount. Your interest rates will vary depending on whether your loans are federal or private, the year you borrowed and, in some cases, your credit score. Check with your federal loan servicer or your private lender to find out your interest rate.Interest will accrue daily on unsubsidized federal and private loans while you’re in college. The total amount accrued will capitalize and be added to your total loan amount when repayment begins. During repayment, interest will continue to accrue and will be included as part of your monthly bill amount.

Is this a subsidized federal loan Select “Yes” if you have a subsidized federal loan or “No” if you have an unsubsidized federal loan or a private loan.• Subsidized federal loans accrue interest while you’re in school and during your six-month grace period after leaving school, but the government pays the interest so it won’t affect the total amount you owe at repayment. To qualify for subsidized federal loans you must meet financial need requirements.

• Unsubsidized federal loans and deferred private loans will accrue interest while you’re in school and during the six-month grace period. The amount that accrues will be added to the total amount you owe when repayment begins.

**Understanding your results**

This is the sum of all the loan amounts you entered. Accrued interest while in school This is the total interest that accrued daily on each of the loan amounts you entered during school and the six-month grace period. The total to repay is the amount you borrowed plus the accrued interest while you were in school that capitalizes. This is how much your total debt will be when you begin repayment, typically six months after leaving school.This total doesn’t reflect the full amount you will pay over time. During repayment, interest will continue to accrue daily and you’ll pay for it as part of your monthly bill.

**Use your results to save money**

Pay your interest during school If you have unsubsidized or private student loans, you can lower your total to repay by making monthly interest payments while you’re going to school. Or, you may opt to make a lump sum payment of the total interest that accrues before repayment begins. Either method will prevent the interest that accrues from being capitalized. The result: a lower monthly bill amount. Lower your monthly payments If you’re having trouble making payments on your federal loans, you can extend the term to 20 or 25 years with an income-driven repayment plan. Income-driven plans lower your monthly loan payments, but increase the total interest you’ll pay throughout the life of your loan.Private lenders may allow you to lower monthly payment temporarily. To permanently lower monthly payments you’ll need to refinance. By doing so, you replace your current loan or loans with a new, private loan at a lower interest rate. To qualify you’ll need a credit score in the high 600s and steady income, or a co-signer who does.

### Other student loan calculators

Student loan payoff calculator: Use this calculator to find your debt-free date, and see how extra payments can speed that up.

Student loan refinance calculator: Use this calculator to compare your current loan payment or multiple payments with a refinanced student loan.

Student loan consolidation calculator: Use this calculator to compare your payments under federal loan consolidation plans with your current bills.

Daily student loan interest calculator: Use this calculator to estimate the amount of interest that your loan accrues daily and between payment periods.

Student loan affordability calculator: Use this calculator to determine an affordable monthly student loan payment and how much that allows you to borrow.

Discretionary income calculator: Use this calculator to determine what you would pay under federal income-driven repayment plans.

Weighted average interest rate calculator: Use this calculator to determine the combined interest rate on all your student loans. You’ll need that average to estimate your loan payments under federal loan consolidation programs or to compare student loan refinancing offers student loan bad credit no cosigner

### Bridge Financing - Investopedia

Spreadsheets are powerful tools that help you understand how a loan works. They make it easy to see important details about your loan, and the calculations are more or less automated. You can even use pre-built loan amortization templates that allow you to simply enter a few details about your loan.

Spreadsheets are available from several popular providers, and the instructions on this page will work with any of the following (among others):

If you like, you can also add additional rows (such as cumulative interest paid, for example).

Next, you’ll need a row for each payment as part of your data table. In the far left column of your spreadsheet (below your “Period” column described above), put one number on each row: The first row is “1,” then move down a row for “2,” and so on. Each row is one payment. For a 30 year loan, you’d have 360 monthly payments – for large numbers like that it’s easiest to fill in the first few periods and use Excel’s “fill handle” to fill in all of the remaining rows.

Now, have Excel fill in and calculate values for you. Remember to use the "$" when you refer to any row number in your calculations except the Period - otherwise, Excel will look in the wrong row.

- Use the PMT function to calculate your monthly payment (using information in your “input area”) - this payment generally
*does not*change over the life of the loan. - Use the IPMT function to show the amount of each payment that goes to interest.
- Subtract the interest amount from the total payment to calculate how much principal you paid in that month.
- Subtract the principal you paid from your loan balance to arrive at your new loan balance.
- Repeat for each period (or month).

Note that after the first row of your data table, you’ll refer to the *previous* row to get your loan balance.

If your loan uses monthly payments, make sure you set up each period correctly in the formulas. For example, a 30-year loan has 360 total periods (or monthly payments). Likewise, if you’re paying an annual rate of 6 percent, you should make the periodic interest rate 0.5 percent (or 6 percent divided by 12 months).

If you don't want to do all the work of working in spreadsheets, there's an easier way. Use an online Loan Amortization Calculator. It’s also helpful for double-checking your spreadsheet’s output.

Once you’ve got your loan modeled, you can learn a lot about your loan.

**Amortization table:** Your spreadsheet shows an amortization table, which you can use to create a variety of line charts. See how your loan gets paid off over time, or how much you’ll owe on your loan at any given date in the future.

**Principal and interest:** The spreadsheet also shows how each payment is broken into principal and interest. You’ll understand how much it costs to borrow, and how those costs change over time. Your payment stays the same, but you’ll pay less and less interest with each monthly payment.

**Monthly payment:** Your spreadsheet will perform simple calculations as well. For example, you’ll need to calculate the monthly payment. Changing the loan amount (if you consider buying something less expensive, for example) will affect your required monthly payment.

**“What if” scenarios:** The benefit of using spreadsheets is that you have the computing power to make as many changes to the model as you want. Check to see what would happen if you make additional payments on your loan. Then see what happens if you borrow less (or more). With a spreadsheet, you can update the inputs and get instant answers loan forgiveness for military

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