If you prefer not to use the PMT function, you can use the standard mathematical formula for EMI in Excel: How to Calculate Home Loan EMI - Ujjivan Small Finance Bank
The monthly interest rate. Since banks quote an annual rate (e.g., 8.5%), you must divide it by 12. home loan emi calculator formula in excel download
The most direct way to calculate your monthly payment is by using the built-in PMT function. =PMT(rate, nper, pv) If you prefer not to use the PMT
For a loan of ₹50 Lakh at an 8.5% interest rate for 20 years , the Excel formula would be: =PMT(8.5%/12, 20*12, -5000000) The resulting EMI is approximately ₹43,391 . 2. How to Build Your Own Calculator in Excel =PMT(rate, nper, pv) For a loan of ₹50 Lakh at an 8
Use cells A1 to A3 for "Loan Amount," "Annual Interest Rate," and "Tenure (Years)". Input Data: B1: 5000000 (Loan Amount) B2: 8.5% (Interest Rate) B3: 20 (Tenure)