For your reference, EMI stands for Equated Monthly Installment and is defined as being the “fixed payment amount made by a borrower to a lender at a specified date each calendar month”. It’s a widely-used loan payment method as it can be used to monthly pay off both interest and principal over a specified number of years until the loan is paid off in full. Though very handy and popular, this method doesn’t involve calculations that are easy to perform without using additional tools. Such an additional tool is this application.
Loan EMI Calculator Software comes with a very simple, and straightforward interface. It’s also rather dull, lackluster and looking outdated, but that’s less important as long as it allows even complete beginners to use this calculator without much trouble. Fortunately, it’s indeed very easy to use. Just enter the principal amount, the number of months for the payment to complete, the interest rate, and choose the loan start date, and all the remaining data will be instantly calculated and displayed. The results can also be exported to standalone text and Excel files or copied to the clipboard.
Cutting long story short, Loan EMI Calculator Software is a nice tool that offers a fast and convenient way of easily calculating loan payments’ EMI.
