EMI stands for Equated Monthly Instalment which is a fixed amount of payment a borrower has to make to the lender at a specified date on monthly basis.
EMIs consists of your principal loan amount and interest amount, payable every month.
Although the EMI remains fixed for every month, the amount paid towards principal and interest changes.
The interest component constitutes a major portion of the EMI payment in the initial stages.
However, as the loan period progresses and the principal outstanding reduces, the portion of interest repayment decreases.
This happens until the end of the loan period when the entire loan amount has been paid off.
EMI can be calculated for a Car Loan, Home Loan, Personal Loan, Gold Loan, Education Loan etc.
EMI amount depends on the following factors:
• Amount of Loan
• Tenure of the Loan
• Complete your Loan as Soon as Possible
• Fluctuation in Interest Rates
This Loan EMI Calculator App helps you to save your time as well as wipe out your bank visit.
You need to just entering you’re details like Loan Amount, Rate of Interest (per annum) and Loan Tenure period in years & calculate the EMI.
Features of EMI Calculator
* User Friendly Interface
* Available Free of Cost
* Graphs
* Easy to use
* No Internet connection
* Consumes less time
* Reports
With this APP, you can view EMI reports either Yearly or Monthly
We do not host EMI Calculator - Loans on our servers. We did not scan it for viruses, adware, spyware or other type of malware. This app is hosted by Google and passed their terms and conditions to be listed there. We recommend caution when installing it.
The Google Play link for EMI Calculator - Loans is provided to you by apps112.com without any warranties, representations or guarantees of any kind, so access it at your own risk.
If you have questions regarding this particular app contact the publisher directly. For questions about the functionalities of apps112.com contact us.
|
| ||||
| Downloads: 28 | ||||
| Updated At: 2024-04-22 15:20:39 | ||||
| Publisher: Teclab Solutions | ||||
| Operating System: Android | ||||
| License Type: Free |