­ Bank Loan Calculator is a free tool to calculate your home loan and vehicle loan Monthly payments.
­ Option to calcuate Loan EMIs based on Reducing/Diminishing Balance
Interest Rate OR Flat Interest Rate.
­ This tool also allows you to drag Rate and Tenure bars to see impact on
your Monthly payment calculation dynamically.
­ Also gives you an option to generate loan repayment chart. The chart
allows you to see the Principal and Interest components of your
monthly payments.
­ Now you can view graph of Interest and Principal components of your
EMI. In Reducing Balance Loans, Interest component in EMI is highest
when loan starts and gradually decreases, as the Loan duration comes to end.