Monday, March 22, 2010

EMI Calculator

My friend is taking a loan to buy a house and he asked me what will be my EMI. He knew following figures and was curious to know his EMI

Loan Amount
Annual Interest Rate
Loan Period - Years

I quickly calculated EMI using PMT function in excel. This triggered me an idea of making a EMI calculator and sharing it with all of you.
EMI Calculator

Equated Monthly Installments are commonly knows as EMI. As per business dictionary EMI is "Hire purchase, lease, or loan -repayment installments that are constant in amount, and are usually collected in advance as post-dated checks"

Download EMI Calculator Excel file to know your EMI

Input your figures to find out resultant EMI. Use spin buttons to fine tune your results

In next post I will discuss how to make EMI Calculator. This will be about adding Spin Buttons ActiveX controls to worksheet and PMT function


  1. Cool, great tool

  2. There are various EMI Calculator which are available online to check the EMI Of your Loan. You should just want to know your loan amount, rates of interest and tenure period.

  3. i tried but not completed debug problem shows