P is the principal loan amount you wish to obtain However, if you do not want to calculate the EMI using the online EMI Calculator or manually, another alternative for you is to use the EMI Calculator Excel.ĮMI calculation on Excel is very easy and it uses the following EMI formula in excel for calculation:ĮMI = (P X R/12) X /. You can use the EMI Calculators available online to calculate your loan EMIs. Knowing your EMI before applying for a loan is extremely useful as it helps you to prepare for upcoming financial obligations.
All loan products including Home Loan, Personal Loan, Education Loan, Medical Loan, and more can be borrowed at EMI repayment schedule. The EMI calculation is made in a way that the borrower can pay an equal amount each month, as per the loan schedule. The EMI includes the principal amount as well as the interest component on loan. Equated monthly instalment (EMI) refers to the fixed amount that the borrower of a loan needs to pay to the lender at a specific date every month.
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