Bank Loan EMI Calculator: A Free Tool for Home and Vehicle Loans

Bank Loan EMI Calculator, developed by Sameer Bhanot, is a free tool for Android devices that allows you to calculate your monthly payments for home and vehicle loans. It is designed to provide you with the necessary information to make informed decisions about your loan payments.

One of the most significant features of this tool is the option to calculate loan EMIs based on Reducing/Diminishing Balance Interest Rate OR Flat Interest Rate. Additionally, it allows you to drag the rate and tenure bars to see the impact on your monthly payment calculation dynamically. The tool also provides an option to generate a loan repayment chart, which allows you to see the principal and interest components of your monthly payments. Moreover, the graph feature allows you to view the interest and principal components of your EMI.

Furthermore, the tool is not limited to a 20-year loan period, and it follows the loan calculation standards of all leading banks, such as SBI, HDFC, ICICI, and AXIS Bank. You can also send emails, save to Dropbox, and send SMS directly from the app. All in all, Bank Loan EMI Calculator is a handy tool that provides you with a comprehensive view of your loan payments.