******Finally a complete loan calculator app on iOS. Now you don't need to use computers to calculate loan. Its not just regular EMI amount you are paying monthly to your loan and find out what is extra. Look at the screenshots, download app & find how your money is spent over the years and start saving money & recommend to your friends******
******App lets you find how much extra you are paying for any loan by taking consideration of taxes, insurance, maintenance amounts along with calculating regular EMI amount.******
******Find out how you can save your money by prepaying the loan principal at different times monthly, adhoc, yearly, varying interest rates, fixing the EMI amounts.******
***** First Time in Loan Calculation...App is so advanced taking into consideration of various factors affecting your monthly expenditure for the loan. Meets real world loan scenarios. Look at screenshots, videos, desc riptions & try yourself *****
***** App has 2 types of loan modes(auto, home) where you can enter annual extra money you are paying. For example for home loan - it has provision to input property tax, insurance and HOA dues. For Auto loan - annual road tax, insurance & fuel maintenance. So app will calculate effective payment outgo for each loan.
App calculates the EMI(equated monthly instalment) for the given loan amount along with various tuning parameters like continuous changing interests, early repayments, fixed emi. App shows the amortisation schedule showing date, interest, principal & balance outstanding for each month. App is very flexible and meets real world scenarios with the following features.
*User can enter multiple floating interest data in loan tenure.
*User can add prepayment information in multiple ways like monthly, yearly and adhoc types.
*User can set fixed EMI at any given time in loan tenure.
*on iPads 3 different loan loan interest can be compared with their EMI, total interest paid and total loan amount repaid.
*If you do early repayment of loan, app provides statistics of money saved and tenure reduction in tabular and pie chart graph reports.
Note: Please do verify the results with your bank's way of calculating interest rates before making any financial decisions. Interest rates & calculation vary from bank to bank. If you have any feedback please contact us.