Whether you are taking a student loan or a housing loan, the most common question you will have is how much do you have to pay every month and for how long.
All you need to do is to provide the loan amount, repayment period and interest rate, this Loan Calculator quickly computes the equated monthly instalment (EMI) you need to pay in order to service the loan.
Apart from the usual monthly payment calculation, this Loan Calculator app also enables you to calculate any one of the following attributes based on the inputs from the other 3:
a) Monthly or Yearly Payment for your Home Loan, Student Loan or Car Loan b) Interest Rate charged by the bank c) Loan Amount d) Loan Term
Select the variable that you wish to calculate, key in the input for the other 3 variables and the result will be generated for you.
You can also generate a pie chart that shows you your total interest & loan amount as a percentage of your total repayment
On top of that, interactive graphs and comprehensive loan amortization schedules are available in this free loan / mortgage calculator app.
Loan Calculator IQ is brought to you by Handy Apps and is completely free to use.
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