Home Loan Emi Calculation Formula In Excel Step by step procedures to Create SBI Home Loan EMI Calculator in Excel Sheet with prepayment Option Download our template for free Free Excel Courses It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan The formula for calculating the home loan EMI is EMI P R 1 R N
EMI Calculator In the last worksheet of the attached Excel file you will find an EMI calculator with formulas In C5 C6 and C7 enter Loan Amount Interest Rate Duration EMI will be displayed in D9 Things to Remember Understanding EMI Equated Monthly Installment or EMI for short is a set monthly payment made by a borrower to a lender on a particular date EMIs are frequently used to pay back loans including personal auto and home loans Input Data You must collect the required input data before you can calculate the EMI in Excel The sum of the loan the interest rate and the
Home Loan Emi Calculation Formula In Excel
Home Loan Emi Calculation Formula In Excel
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You can easily use PMT formula of Excel to calculate home loan EMI Here is the formula EMI PMT rate nper pv fv type rate Yearly Interest rate 12 100 nper Number of months remaining tenure remaining pv Current outstanding Principal value fv 0 type 0 Step 5 Use Fill Handle to Complete Dataset After inserting the formulas we apply them to the whole sheet Select Cell C8 and put the cursor on the bottom right side of the cell The cursor will change into a small black plus sign called the Fill Handle Double click on the Fill Handle sign or drag it down to Cell C246 Repeat the same procedure for the rest of the formulas
How to calculate home loan EMI on an Excel sheet The home loan EMI calculation formula on the Excel sheet helps you to calculate the present value of payments PMT which is a simpler way of calculating the EMI The formula r nper pv Where R here stands for rate of interest 8 50 per cent Calculate the Loan Tenure in Months Next convert the loan tenure from years to months In cell B6 enter the formula B3 12 This converts the 20 year tenure to 240 months Use the PMT Function to Calculate EMI Finally you can calculate the EMI using the PMT function In cell B4 enter this formula PMT B5 B6 B1
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This article provide the information related to the home loan EMI Calculator Excel and provides a step by step approach to using a free Excel based calculator Using a formula such as PMT Payment in Excel borrowers can calculate their home loan EMIs accurately By inputting variables such as the loan amount tenure and interest rate Here below down you can download the EMI calculator in Excel format which will help you to calculate the EMI of Any Loan Like Home Car Loan Personal Loan etc So below is the screenshot for the EMI Calculator in Excel Sheet EMI Calculator in Excel xlsx File Download Calculator Download More Excel Files
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Home Loan Emi Calculation Formula In Excel - Calculate the Loan Tenure in Months Next convert the loan tenure from years to months In cell B6 enter the formula B3 12 This converts the 20 year tenure to 240 months Use the PMT Function to Calculate EMI Finally you can calculate the EMI using the PMT function In cell B4 enter this formula PMT B5 B6 B1