Emi Calculator With Prepayment-How to Calculate Loan Payments?

Monthly payments are a major concern for those who have taken loans. If you still save money after paying monthly interest on loan then you can say that the loan is affordable. If you are going to borrow a new loan then doing a bit of calculation is good. It is a best to check out the loan payment amount for this you can use Emi Calculator with Prepayment. This way you can manage your monthly expense and budget. You can then make better decisions over your financial stability. For example, you can decide whether to borrow a large amount of taking slightly less. So, calculate loan payments and have complete control over your budget.

Emi Calculator With Prepayment-How to Calculate Loan Payments?
Emi Calculator With Prepayment-How to Calculate Loan Payments?

Ways to calculate payments for a loan using Emi Calculator with Prepayment

Different calculations for different loans! Yes, that’s true because the interest rate is different and so the loan type. For some loan, you only pay the interest whereas some loan has to be cleared within a set period. This is called an auto loan.  Use a few ways which help you to figure out the interest amount.


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A loan calculator or EMI prepayment calculator

Not the ordinary calculator but an online Emi Calculator with Prepayment will do the task. It is a great tool to calculate the accurate payment only if you give correct information. Provide information such as loan amount, annual interest rate, the term of the loan in months or year. Choose how you would like to see the result like a yearly basis or weekly and get the results. Loan calculators are good to the accurate results for any type of loans like mortgage loan, home loan and more.

Emi Calculator With Prepayment-How to Calculate Loan Payments?
Emi Calculator With Prepayment-How to Calculate Loan Payments?

How to calculate loan repayment amount on MS excel?

Calculate using Microsoft excel, it’s simple. Its pre-built functions let you do even the toughest calculation easily. For example- you want to calculate the mortgage payment. Enter the values in PMT function like this “=PMT(rate,nper,pv,[fv],[type]). Rate is your interest rate, nper is the number of periods, pv is present value i.e. Borrowed amount, fv is future value and its optional. Define loan occurrence period whether it occurs at the beginning or end of an period. This formula will give you the result.

You Can Calculate manually

You can even manually do the calculation if you are good at math or else you can use Emi Calculator with Prepayment. Divide the interest rate for your loan by the years or months for which you will pay the interest and this is your number of payments and multiply it by the loan principal amount. This is your interest.

These calculations are fairly simple. However, if you don’t want to get involved in the calculations then use online loan calculators. They give fair results as while manually calculating you may make errors.

Emi Calculator With Prepayment-How to Calculate Loan Payments?
Emi Calculator With Prepayment-How to Calculate Loan Payments?

Comparison Rates or Annual Interest Rates : Which One To Select?

Loan payment depends upon the type of loan you have borrowed. Moreover, you should have clear understanding of interest rates. While calculating interest, take annual interest rate into account. Comparison rate will give you a higher result whereas basic annual interest rate will give you accurate results. Charge and account fees both are included in comparison rates as an interest. So, calculate the basic interest rate using Emi Calculator with Prepayment options.

If you know how you will repay the amount and what will be the interest rate, principal and repayment amount then the Emi Calculation along with prepayment is easy. This way it will be easy for you to manage your budget and meet your requirements.


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Tags:- Emi Calculator With Prepayment, Emi prepayment calculator, How to calculate loan repayment amount

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