EMI calculation using Excel

I mentioned the formula used to calculate an EMI, but putting values in the formula and calculating it is a cumbersome task. So I did some research in Microsoft Excel and found out that it can done quite easily in excel.

EMI calculation in Excel

Step 1: Open the excel sheet and locate the fx button

Step 2: In the pop-up menu, click on Financial Catergory

Step 3: In the Function Name click 'PMT'

Step 4: A box will appear as shown, fill in the values mentioned and voila you get the EMI.


Interest Component of the EMI

  • Just choose the IPMT function instead of PMT

Prinicpal Component of EMI

  • Just choose the PPMT function instead of PMT

5 comments:

Gautam Satpathy said...

Cool! Thanks a ton. Clear and concise as usual.

Kumaresan said...

Exactly the information I was looking for ,

Thanks dude
- Kumar

PerSquareFeet said...

Thanks for the information. Here is another online EMI calculator than can come in handy:

http://www.persquarefeet.in/calculators/EMI.aspx

blogger said...

@PerSquareFeet Thanks for comments...Checking out your website...

Swappy said...

GREAT WAY MADE LIFE EASIER