How to calculate personal loan interest emi
Roy (CA) (94 Points)
08 April 2016
I want to know about the personal loan EMI calculation process, there is any way?
3 Replies
Nitin Arora
(Financial Audits)
(53 Points)
Replied 08 April 2016
You can calculate it manually but it can prove to be time consuming, so it is better to use Personal loan EMI calculator to get the exact amount that you need to pay every month to your lender.
HowToCalculate
(10 Points)
Replied 26 September 2016
GEt your personal loan emi calculator Download, and for detail understanding of EMI calculation click here to read.
jitendra
(cc)
(42 Points)
Replied 09 January 2017
The mathematical formula for calculating EMIs is:
[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 installments
Source : https://emicalculators.in/
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