Are you got bored of searching for emi calculator download for mobile, emi calculator apk, home loan calculator download free, flat interest rate emi calculator download etc? Then let me tell you that there are many such useful mobile calculator app available with which your work can be done easily. In this article I am going to share about such 5 best EMI Calculator Apps For Android mobile phone.
Nowadays, loans have secured a significant place in our lives and without a doubt; it helps us to fulfill the important goals as well. So, whether you are looking to buy your dream car, want to purchase a home, or want to afford the expenses of your kids’ overseas education, all these can be achieved with the help of a loan.
What is an EMI
When we talk about loans, EMI (Equated Monthly Installment) is the common word that gets associated with a loan. It is a fixed monthly amount you need to pay to your bank or the lender. In the initial stages, the interest rate is the main element that constitutes the major part of the EMI. As you proceed along the loan term, the portion of the interest repayment decreases and the payment towards the principal repayment goes up.
What is EMI Calculator
If you don’t want to make any error while calculating your monthly payments and want to schedule your payments, an EMI Calculator will come handy. An EMI calculator is easy to use, save your valuable time, easy to understand, and most importantly you can have instant results.
E.g. I generally refer to a website http://emicalculators.in/ where you can easily provide the necessary information like loan amount, duration of loan, interest rate and then find out how much EMI you have to pay for the loan like home loan, car loan, personal loan, education loan etc. There are many such options and better alternatives available online and even these days in mobile app version as well.
With the advancement in the field of technology, smartphones have really gone one step ahead and make things easier for us. Whether you want to transfer money to your loved ones, book a movie ticket, or book a railway ticket, you can do all this on a smartphone. Now, you no longer have to be at your desktop to calculate your EMI, you have easy access to various EMI Calculators apps for android. All these apps make EMI calculation easier and you can even make the calculations while you are on the go.
Best EMI Calculator App for Home Loan, Car Loan & Personal Loan etc
So, let us get familiar with top 5 EMI Calculator apps you can download on your smartphones. If you are using your desktop, then look for best 5 EMI calculators online.
EMI Calculator by PAppsWork
Topping the list of the best EMI Calculators App is a calculator designed by PAappsWork. The calculator helps you to calculate the EMI for Car Loan, Home Loan, Personal Loan, etc. Making things easier for you, all you need to enter is the amount of the loan, rate of interest, and period of the loan (in years). Some of the key features that helped this app reach at the top spot are –
- It can share the EMI results
- You can easily calculate your monthly EMI, total payment (Principal + Interest), and total interest
- Easy user interface
- You can compare different loans
- Helps you to create loan profiles that really come handy in keeping a track of your monthly EMI amount and payment dates
- Using this EMI Calculator, the whole process of checking both monthly and yearly EMI payments, Principal and interest amounts is quite easy
- Helps you share the amortisation chart details with your family members and friends in excel sheet format
Loan EMI Calculator by Innoviztech
Second position is secured by an EMI Calculator designed by Innoviztech. If you want to be familiar with the EMI that needs to be paid towards the loan, then this EMI calculator will make things easier for you. In addition, you can also trust this calculator to calculate precise EMI amount for the purchase of your home, car, bike, etc. Following are the key features of the EMI Calculator app
- Total amount you need to pay for the period
- Monthly Amount (EMI)
- Allows you to share EMI details via email or SMS
- Make you familiar with the total interest amount for the period mentioned for instance – 1 year or 2 year
- You get to see EMI details displayed as a chart
- You also get a detailed view of interest amount/month, Principal amount/month, and Total balance amount
EMI Calculator by Feathersoft Info Solutions Private Limited
At the third position, there is an EMI Calculator designed by Feathersoft Info Solutions Private Limited. This android app helps you to calculate EMI (Equated Monthly Installments) of the loan you have taken. Once you have entered the interest, period, and the loan amount, the app generates a table showing EMI, interest, principal amount, and balance amount.
Using this android app, you can also make a comparison between the diminishing rates and flat rates. There is an added provision of entering additional payment for the diminishing calculation. Its colored user interface makes the calculator appealing and with more functionalities calculating EMI is easy and a hassle-free process.
Loan/Mortgage EMI Calculator by ARB Apps
Moving on to the fourth position, there is an EMI Calculator designed by ARB Apps. The whole calculator is designed in a manner that it can be easily used by a layman as well. If you have a smartphone that support android apps, then this app is a must-have. Some of the reasons why you should download this app are
- You get to calculate the loan affordability on the basis of the affordable EMI
- You can easily calculate the loan/mortgage EMI for car, personal, and home loan
- You can easily compare 4 different set of loan values
- The app generates amortization chart/repayment schedule of the loan
- If you want to send the loan amortization chart/repayment schedule, then you can easily send them via email as an Excel file
EMI Calculator by Xenon Nation
Even though this EMI Calculator android app is at the last position but that does not make it less efficient than the others. With the help of this app, you can easily calculate your EMI. You get to enjoy quick results and also assist you in perfect loan planning.
The key features that make this app hit amongst the users are its colourful & graphical breakup of the total payment, easy to use, and quick download. In order to have the EMI for your home loan, car loan, and personal loan, all you need to enter is the principal amount, interest rate, and loan tenure (months and years).
So, there you have it. Above-mentioned are the top 5 EMI Calculator android apps that help you calculate EMI, so what are you waiting for, go to Google Play Store and download the app as per your needs and requirements.