# Loan EMI Calculator | Loan EMI Calculator

Dear Viewers, Personal loans are preferred over other loans as they require less documents, they provide flexibility of use and take comparatively less time to process. Unlike the other loans, you can pay repayment term of 1-5 years. then EMI Calculator is a fast and easy solution to preplan you can balance your cash inflows and outflows both, So you naver run out of your money. EMI calculator is a formula box with 3 inputs, namely- loan amount, loan tenure and interest rate. you fill up the details, this EMI calculator tell you the EMI (Equal Monthly Installment) amount that you will need to pay. how can you download EMI Calculator we provide you below link of this Application so you can download easily. for more details read below.

Loan EMI Calculator: Formula for calculating EMI

Dear Viewers, Now You can calculate your EMI amount using the following mathematical formula in this EMI Calculator.

EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R and N are variables.
• This also means that the EMI value will change whenever you change any of the 3 variables. Lets we discuss these 3 variables in detail under this article. 'P' stands for 'Principal Amount'. The principal amount is the principal loan amount given to you by the bank on which is instered rate will be calculated by use the EMI Calculator Application. 'R' stands for interest rate you can set by your bank. 'N' determines the number of years given for repayment of the loan by using this EMI Calculator Application.