Interest Rate Calculator Online
Get a glimpse of the interest rate payable on your loans through Jupiter's Interest Rate Calculator!
The Interest Rate Calculator is one of the essential tools you require for everyday calculations. When you opt for a loan, you are unaware of the amount you are liable to pay as interest, and the online tool helps you here. It collects all the necessary data and gives you a detailed view of all the information required.
Read on to find out more about the loan Interest Calculator and get a solution to all your queries.
What is Interest Rate?
The interest rate is the amount charged to a borrower and is a percentage of the loaned amount. Whether you avail of a personal loan, home loan, or loan on vehicles or education, you need to repay the loan amount. The interest rate will tell you how much you need to pay back on the borrowings.
To calculate the loan amount, use Jupiter's Interest rate calculator and get fast and convenient results.
What is an Interest Rate Calculator?
An Interest Rate Calculator computes the total amount and the interest rate you're liable to pay. The online tool induces you to enter inputs like loan amount, duration of loan availed, and monthly EMI, producing the total amount with the interest rate.
Working of Interest Rate Calculator
Jupiter's loan interest calculator uses the following formula to compute the interest rate.
E = P*r*(1+r)^n/((1+r)^n-1)
Here, E - EMI repayable
P - Principal loan amount
r - Applicable rate of interest
n - Loan duration (It can be yearly or monthly)
Let's learn more about its works through a real-time example.
Suppose you avail of a loan of Rs 2,00,000 for the next 10 years, and the loan EMI is Rs 2000. Jupiter's Interest Calculator will show the total amount as Rs 2,40,000 and the interest rate as 3.74%. The investment requires a total interest of Rs 40,000.
How does an Interest Rate Calculator help me?
The loan interest calculator helps you to compute tricky calculations quickly. It allows you to estimate multiple amounts at a single point. It will generate reliable results every time you change the values.
How to use Jupiter's Interest Rate Calculator?
To use Jupiter's Interest Calculator-
- Enter the required inputs, i.e., Loan amount, duration of the loan, and monthly EMI in the loan interest calculator.
- The tool will calculate the total amount(Principal+total interest) and the interest rate.
Why Jupiter's Interest Rate Calculator?
The online bank helps its users pace up with the contemporary world. It offers reasonable solutions to all your financial needs.
Jupiter's Interest Rate Calculator supports you with multiple benefits. Here we are enlisting some of them.
The online tool saves you from long-drawn-out calculations. It computes the interest rate within seconds and also offers reliable results. You can perform multiple calculations at a time. It means it helps you keep track of all the loans and the interest you need to pay for them.
Jupiter's loan interest calculator also helps you save a lot of your time. You can perform the calculations instantly and get a glimpse of the total interest rate and investment amount. It will help you plan your finances accordingly.
You can also use Jupiter's loan interest calculator for better fund allocation.
You can plan your funds accordingly when you get an idea of the total investment and the interest rate. It will help you be financially stable and prepared for other future expenses.
Sometimes, we tend to avail more than one loan at a time. However, it's not easy to remember the interest rates of all the borrowings. So, Jupiter's Interest Rate Calculator helps you to compute these multiple transactions.
Quick and Easy
Jupiter's Interest Rate Calculator ensures quick and easy results. You do not require any skill or technical know-how to operate the tool. The tool will assist you most simply in all your loan interest calculations.
Jupiter's loan interest calculator helps you compute and generate the total amount and interest on the loans. You can operate the tool many times without it being technically inactive. The sporty and instant calculator is a need of the hour and offers the best possible results.
Get smarter with Jupiter's Interest Rate Calculator and acquire the expected results beforehand!
1. How can I calculate the interest rate on loans?
You can use Jupiter's Interest Rate Calculator to get an idea of loan interest rates.
2. How can I use an online Interest Rate Calculator?
You can use an online interest calculator easily. Add the required inputs, and the loan interest calculator will generate the expected results.
3. If I have prepaid a part of the loan, is there a need to recalculate the EMIs?
You can recalculate the EMI if you want to reduce the loan tenure as prepayment either lowers the EMI amount or reduces the loan tenure.
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