Loan EMI Calculator - Flexi 10.8

App Overview:

• The application offers a range of tools to assist with saving money effectively. By prepaying the loan principal at various intervals such as monthly, ad-hoc, and yearly, adjusting interest rates, and setting fixed EMI amounts, users can potentially optimize their finances.
• The application calculates EMI (Equated Monthly Instalment) based on the specified loan amount and provides users with an amortization schedule detailing dates, interest, principal, and outstanding balance for each month.
• Key Features:

1. Users can input multiple floating interest rates throughout the loan tenure.
2. Prepayment information can be added in different ways including monthly, yearly, and ad-hoc frequencies.
3. Users are able to set a fixed EMI at any point during the loan tenure.
4. Comparison tool to evaluate three different loan interests based on EMIs, total interest paid, and total loan amount repaid.
5. Generates statistical reports displaying money saved and tenure reduction in tabular and pie chart formats.

Before making financial decisions based on the application's calculations, it is recommended to verify the results in accordance with your bank's interest rate calculation methodology. Please note that interest rates and calculations may vary between financial institutions. For any feedback or inquiries, users are encouraged to reach out to the application's support team.