Financial Calculators

Financial calculators can be used to calculate the EMI, loan amount, loan tenure and other details. They can also be used for getting the best out of your investment portfolio. You can select one from many bank calculators such as home loan EMI calculator and personal loan calculator, and then insert the relevant data to know the interest cost, equated monthly installment, and flexible loan amount.

The equated monthly instalment is a function of three factors: loan amount, tenure, and interest rate. Usually, the monthly instalment is calculated using the formula:

EMI = [P x R x (1+R) ^ N] / [(1+R) ^ (N-1)]

EMI stands for equated monthly instalment; P is the loan amount you borrow; R is the rate of interest; and N is the tenure.

You can calculate your EMI by using the mathematical formula, the Excel spreadsheet, and online calculators.

The mathematical formula for calculating the EMI is:

EMI = [P x R x (1+R) ^ N] / [(1+R) ^ (N-1)]

EMI stands for equated monthly instalment; P is the loan amount you borrow; R is the rate of interest; and N is the tenure.

You can also use the PMT function on the Excel spreadsheet and calculate your EMI. It uses the syntax: PMT (rate, nper, pv). In the formula, rate represents the rate for the loan; nper represents the total number of payments for the loan; and pv is the present value.

Alternatively, you can use financial calculators for getting accurate estimates of your EMI. Home loan EMI calculator, personal loan calculator, car loan calculator, and bank EMI calculator are a few popular online bank calculators.