Personal Loan EMI Calculator | Loan Interest Calculation Method with Excel Formula
In this video by FinCalC TV, we are going to see how you can calculate EMI of Personal Loan utilizing Excel Examples, Loan Interest Calculation methodology, private mortgage principal calculation methodology with rate of interest of banks resembling SBI, ICICI, HDFC, Bajaj Finance private mortgage calculator and rate of interest 2021 2022.
If you could have private mortgage than it is very important understand how EMI is calculated in your private mortgage, private mortgage curiosity calculation, private mortgage EMI calculation, private mortgage principal calculation with excel examples on-line and offline modes. SBI, ICICI, HDFC, Bajaj Finance all present you private loans with good rates of interest, however have you learnt the EMI calculation methodology and method?
Do you understand EMI = Principal + Interest Amounts?
How Loan prepayment will help you save mortgage curiosity quantity?
Whether to cut back EMI or Tenure after mortgage prepayment?
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Home Loan EMI Calculation:
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TIMESTAMP:
00:00 Intro
00:24 Free Calculator App
00:45 Personal Loan EMI Introduction
01:25 EMI is Principal + Interest Amounts
02:14 How to Save Interest by Loan Prepayments
02:54 Loan Interest affecting elements
03:50 Fixed vs Variable Interest Rates
05:00 Personal Loan Calculation with Excel
07:19 EMI Calculation methodology & method
09:06 Loan Interest Calculation method
10:15 Principal Amount Calculation in Loan EMI
13:59 Total Interest in Personal Loan
14:38 Total Amount Calculation in Loan
15:20 Calculations with totally different Principal & Rate
16:04 More Videos utilizing Excel
Following queries shall be solved:
What is private mortgage?
Personal mortgage rates of interest?
Loan EMI calculation methodology?
Loan EMI calculation method?
Personal mortgage prepayments situation?
Loan prepayment prices?
How to avoid wasting private mortgage curiosity quantity?
mortgage prepayment cut back emi or tenure?
residence mortgage emi calculation?
prepayment penalty and prices?
what are mounted and variable rates of interest?
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About the video:
How ought to I exploit the private mortgage EMI calculator?
The private mortgage calculator has been designed in such a approach that it may be utilized by anybody. You don’t have to know the advanced formulae to calculate your month-to-month funds. Just enter three key inputs – mortgage quantity, time period and curiosity – and the calculator will robotically do the calculations for you. Increasing the rate of interest or mortgage quantity will improve your EMI, whereas growing the tenure will cut back the EMI.
What is a Personal Loan EMI?
EMI or Equated Monthly Instalment is the quantity that’s payable per thirty days, in case you avail of a Personal Loan for a sure interval. The EMI quantity shall be used to repay each the Principal Loan Amount and the Personal Loan Interest over the mortgage tenure, till the mortgage is paid in full. The EMI will stay the identical all through the tenure.
What is charge of curiosity for private mortgage?
It depends upon totally different banks and monetary establishments
How do I calculate EMI in Excel?
Calculate EMIs utilizing the PMT perform on Excel.
=PMT(RATE,NPER,PV,FV,TYPE)
Factors that Affect Personal Loan EMI
Principal- The principal is the mortgage quantity that you just avail from the lender. It is immediately proportional to your EMIs – decrease principal will decrease your month-to-month instalments
Rate of interest- The charge of curiosity is the speed at which the lender affords you the mortgage. It can be immediately proportional to the worth of your mortgage EMIs.
Tenure- The tenure is the time inside which you repay your mortgage. The tenure is inversely proportional to your mortgage EMIs – longer tenure makes the month-to-month instalments cheaper and vice versa.
#PersonalLoan #LoanEmiCalculation #ExcelFormula #EMICalculationMethod #FinCalCTV #Excel
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DISCLAIMER:
Examples used are for Illustration objective solely and won’t cowl each element of examples proven. It is suggested to hunt skilled assist earlier than taking any monetary choices. The proprietor of this channel shall not be liable in any approach.
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