Equated Monthly Installment - EMICalculate app for iPhone and iPad
This Equated Monthly Installment (EMI) calculator helps you calculate how much you need to pay every month towards your loan repayment, based on the Loan Amount, Interest rate and Loan Tenure.
EMICalculate supports both simple (flat) and compound interest rates. The EMI for different payment period (i.e. monthly, quarterly, half-yearly and yearly) can also be computed. Finally an amortization schedule that shows the loan balance, principal and interest paid for the term of the loan is provided.