EMI Calculator For Car And Bike In Excel - EMI Calculation formula

Download the file from the below mentioned link

https://docs.google.com/spreadsheets/...

importance of shorter loan period

EMI Calculator(Bike & Car)
5 Years 3 Years
Loan Amount ₹ 5,00,000.00 ₹ 5,00,000.00
Rate of Interest(Annual) 12% 12%
Duration(Years) 5 3
Rate of Interest(Monthly) 1% 1%
Duration(Months) 60 36
EMI ₹ 11,122.22 ₹ 16,607.15
Total Amount Pay ₹ 6,67,333.43 ₹ 5,97,857.58
Total Interest Pay ₹ 1,67,333.43 ₹ 97,857.58

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