EMI calculator app
EMI calculator download
download EMI calculator app
Calculating the EMI before applying for any type of loan is good planning. It helps to speculate the expenses that you will have to bear after borrowing the loan. It also helps you calculate the EMI for different tenures so that you can decide the tenure for the loan beforehand. But you will need an EMI Calculator App for evaluating the EMI on a particular amount of loan at a particular interest rate and for a given period of tenure. It is convenient to use the mobile app rather than visiting the website to calculate the EMI. You can find the EMI App on the Play Store or App Store of your smartphone. Here are some of the exclusive benefits of the EMI App that you can explore below.
Advantages of the EMI Calculator App
There are many advantages of calculating the EMI using an App and they are as follows:-
If you use a Smartphone then you can easily download and install the EMI Calculator App from the Android or IOS stores. The app will help you to calculate the EMI on a particular loan amount and at a particular rate of interest. If you want the amount of EMI to be low then you can increase the tenure of the loan and vice-versa. You can speculate on the expenses that you might have to bear if you are borrowing any type of loan. So, calculating the EMI on the loan before borrowing it can be good planning. Your smartphone is enough to know about your EMIs and you don’t need to visit any website for the calculation.
Once you download EMI calculator app, you can calculate the EMI in seconds. All you have to do is to enter the loan amount you are willing to borrow, the interest rate charged by the bank, and the tenure you are willing to have, and the calculator will calculate the EMI. You can check the amount of interest that will be charged every year according to the information given by you.
Just Enter 3 Values
You will have to provide the Loan Amount, Interest Rate, and Tenure to calculate the EMI through the EMI Calculator App. If you increase the tenure then the amount of the EMI will be reduced. On the other hand, increasing the interest rate and decreasing the tenure will increase the amount of your EMI on a particular loan amount.
There are zero chances of any margin of error if you are using the EMI Calculator app to calculate the EMI. The apps are designed with an accurate algorithm that gives the best results while calculating the EMI. You can make the EMI Calculator downloadthrough the App Store present on your smartphone and start using it. It will help you in speculation of your EMI even before you have borrowed the loan.
The manual formula for calculating the EMI P x R x (1+R)^n/((1+R)^n-1). In this, P stands for the loan amount, R Denotes the rate of interest, and small “n” is the repayment period. So, if you follow the manual formula to calculate the EMI then it will consume a lot of time. Therefore, you must use the EMI Calculator App to calculate EMI quickly and without any hassle.
So, you have seen then how an EMI Calculator App can be an essential tool for calculating the EMI and you can get an accurate result within seconds. On the other hand, using this app is quite easy and you will not need any expertise to use this app.