Nice article explaining how to work out an EMI for a given loan amount. Just in case anyone would like to use a readymade EMI calculator in excel they can go ahead and use this. It basically uses the same formulas outlined here (rate, tenure and loan amount) and adds some more functionality to it.
during my tenure of loan suppose interest rate rises in such a way that the interest part is more than the existing EMI. then i have to go for part prepayment. how to calculate the part prepayment amount.
i have sanctioned home loan for Rs400000/-. but itakeen 350000/- only,my emi is fixed on 400000/-.emi is 5500/-. firstly itken loan for 10 years. first five months . how it is calculated what is the formula.now what is my loan period.my email address is madhusql@gmail.com. please reply me thanking you
i have sanctioned home loan for Rs252000/-. but itakeen 144498/- only,my emi is fixed on 252000/-.emi is 2831/-. firstly itken loan for 15 years. first five months unterest charges 468,1305,1277,1250,1263. how it is calculated what is the formula.now what is my loan period.my email address is tvenugopal1972@gmail.com. please reply me thanking you
