Home Loan Emi Calculator Formula In Excel

It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. In order to do so three variable of a housing loan is utilised namely rate of interest period and loan amount. Your life loan value is the amount of time you have in years to pay off the loan.

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Nper is the number of payments to clear the loan.

Home loan emi calculator formula in excel. You can calculate emi for home loan car loan personal loan education loan or any other fully amortizing loan using this calculator. In the example shown the formula in c10 is. Emi value can be calculated in excel using pmt function which has the following syntax. So loan tenure is 3 years i e.

How to use emi calculator. So below is the screen shot for the emi calculator in excel sheet. Pv stands for present value loan amount principal amount. To calculate a loan payment amount given an interest rate the loan term and the loan amount you can use the pmt function.

Pmt rate nper pv fv type here rate stands for rate of interest applicable on the loan. Open pmt function in b7 cell. Hdfc s home loan emi calculator also gives an approximate figure for. In the excel sheet choose a cell and enter the following formula.

Emi stands for equated monthly installment. Here below down you can download the emi calculator in excel format which will hep you to calculate the emi of any loan like home car loan personal loan etc. Nper stands for total number of monthly installments loan tenure. Your loan amount value is the total amount you owe.

How to calculate emi for home loan using excel sheet calculation of home loan emi is a simple method using an excel spreadsheet. Your annual interest rate value is the percentage of interest that accrues each year. Calculate payment for a loan exceljet. Your number of payments per year value is how many times you make a payment in one year.

With colourful charts and instant results our emi calculator is easy to use intuitive to understand and is quick to perform. These are rate of interest rate number of periods nper and lastly the value of the loan or present value pv. Enter all this information in excel. The formula which you can use in excel is.

A longer loan tenure for a maximum period of 30 years helps in reducing the emi. Pmt rate nper pv fv type for instance if you want to find emi value for a loan amount of 100 000 which is payable in say 5 years i e 60 monthly instalments with an interest rate of say 12 p a the emi can be calculated by placing the following formula in a cell in excel spreadsheet. Pv is nothing but. You need three variables.

First thing is the rate so interest rate select b6 cell. Enter the following information in the emi calculator. In excel the function for calculating the emi is pmt and not emi. Mortgage calculator in excel step 1.