We know that if some one has extra spending have no money to pay at once so he will definitely go to loans

Loans helps to buy car, to complete house dream or to pay colleges fees it something like fulfill needs of someone

So If you taken loans then you have to paid to bank at specified time on rate of interest

If i taken loan or person when he decides to taken loan he will have on mind that what will be the equated monthly installment which has to be paid per month

If EMI is under his credit score so will definitely apply for loan

but point is to calculate exact equated monthly installment to clear EMI which paid for loan more or less than actual EMI

In this case we have common question

**are we filling EMI accurate?**or

**are my lender taking EMI more than actual EMI from me? all these questions we come across in this post**

## What is Equated Monthly Installment(EMI)

This question

This short form covers some elements which important role play in loan and whenever you apply for loan in future this post really helps and some guide to you

It is repayment which we give each month at specified rate of interest for given duration

**know most of them but some of misconception what does emi mean really and even they don't go into depth**__what is emi__This short form covers some elements which important role play in loan and whenever you apply for loan in future this post really helps and some guide to you

It is repayment which we give each month at specified rate of interest for given duration

It has following three main consists - loan amount ,tenure ,rate of interest

If you want to pay loan before duration of time it considered as prepayment and in this interest become high but tenure goes to less

Prepayment impacts on rate of interest which changed so interest can be fluctuated depend on tenure is constant or change

Prepayment impacts on rate of interest which changed so interest can be fluctuated depend on tenure is constant or change

Changes in the loan tenure definitely affects the EMI that means if loan tenure is high then you will pay less EMI but if its higher then EMI will increase

## Equated Monthly Installment Calculations

You have Decided to take loans but how you can calculate equated monthly installment personally sometime it will aware you about EMI payments how will you afford and on how much

There has some simple methods or using Excel you can easily calculate

## Your Self EMI Calculator

**How to calculate equated monthly installment manually or how to calculate monthly emi**this is basic questions come into mind so for this we use special calculation methods or EMI calculator for finding EMI

EMI calculator is good option to calculate loan it has for calculating EMI by maths derivation or Excel or online tools

You have to just add loan variables such as principal amount , time duration and interest rate so by analyze these value it displays amount which you have to pay per month

## Types of EMI Calculator

- Education EMI Calculator - for education loans
- Personal EMI Calculator - for personal loans
- Home EMI Calculator - for home loans
- Car EMI Calculator - for car loans

### Variables required for Loan EMI Calculator

Types |
Variables |

Car Loans |
Principal amount,duration, interest rates |

Home Loans |
Principal amount,duration, interest rates |

Education Loans |
Principal amount,duration, interest rates |

Personal Loans |
Principal amount,duration,interest rates , processing fees |

### Benefits of EMI Calculator

- Don't dependence on bank calculation methods
- Save Time
- Accurate Results
- Manually checked by calculator or anything now do not required
- Can be use anywhere or at any places

## Calculation of equated monthly installment with excel formula

We can calculate emi calculation with the help of excel

EMI calculation formula in Excel Spreadsheet is

**PMT(rate,npr,pv)**

**where PMT is the function in excel to find EMI , rate is rate of interest , npr is duration time and pv is the principal amount**

**Please note that if someone has paying loan at quarterly installment then rate of interest will be divide by 4 and no of years i.e npr will be multiply by 4**

##
**EMI Calculator Excel Sheet with Prepayment Option**

From this excel sheet you can easily calculate loan with prepayment option

It means if i have to pay loan before tenure of loan then it will called as prepayment

For example if ram takes a loan of rs.400000 with 8.5% interest rate for 10 years so he will be pay 400000 + 196117 = rs. 596117 but after he decided to pay 20,000 annually upto rs 80,000 as prepayment then rate of interest paid will be 127000 so from repayment ram saves rs.75000

**so you can easily minimize total interest paid through prepayment**

**If you want to needed this type of calculation for loan so Download EMI Calculator Excel Sheet with Prepayment Option CLICK HERE this emi calculator in excel gives precise Equated Monthly Installment**

## Equated Monthly Installment Formula by Math

that is mathematical formula by which we can easily calculate EMI where P is the principal amount i.e loan money , r is the rate of interest and n is the total no of repayments of loan or duration time

#### Equated Monthly Installment Example

here is the emi calculation formula for example if vijay is taking loan of rs.5,00,000 for 3 years and rate of interest is 8% then according to emi calculation formula vijay has to pay 15668 rupees per month as total equated monthly installment and total interest payable is 64,055 so total payable will be 5,64,055

## Equated Monthly Installment Calculator

This calculator below useful to calculate any type of loans either if it is car loan,personal loan or home loan and gives total emi which has to be paid per month

So this post about Equated Monthly Installment really helpful to find emi and person able to decide how much interest on particular duration of time has to be paid , can be easily analyze load of paying heavy interest

So this post about Equated Monthly Installment really helpful to find emi and person able to decide how much interest on particular duration of time has to be paid , can be easily analyze load of paying heavy interest

## EMI Calculator

Loan Amount | |

Interest Rate | |

Loan Period (in month) | |

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