Calculate EMI on Personal Loan Using Personal Loan EMI Calculator Calculate EMI on Personal Loan using personal loan

Calculate EMI on Personal Loan using
personal loan EMI Calculator
Need some money in a short time? Then Personal Loans are your best bet. You get funds
immediately since the loan process is pretty quick. Repayment of these loans through EMI can be
pretty easy provided you know what you’re going to be paying every month. Just calculate EMI
through an online calculator and you’re good to go.
You can apply for online Personal Loan and calculate EMI that you’ve to pay using Personal Loan
EMI calculator. This is available on spreadsheets or online. To do the calculations, all you need are
three parameters; loan amount, rate of interest and loan term.
How to Calculate Using Excel
Using Excel is the easiest way to ​ calculate the EMI on Personal Loans​ . Use the “PMT” function and
enter these variables: present value of loan, interest rate and number of loan instalments, you can
find the EMI outflow.
How to Calculate EMI by Mathematical Formula
You can also use a mathematical formula to find EMI on Personal Loan. The formula runs as follows
EMI=[ P * R*(1+R)^N]/[(1+R)^N - 1]
Where P=loan amount
R= Rate of interest per month
N= Number of monthly instalments