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Originally Posted by deepakhon Good post this one. Most of us do not want to do any calculations nor do we know how the heck they calculate. Good to know that there is a calculator available which gives us the exact EMI for that rate of interest. |
Hmmm.... that reminds me. If any of you guys are going for any sort of loan and need to check the calculations do let me know. I have a calculator that can churn out all sorts of reports on all sorts of loans, EMIs etc... Its an in-house tool one of our associates developed for these kind of problems. Its mighty effective!
I used it while taking the car loan. That is how I got wise to their trick of EMI calculation and the advance EMI kaa jhol that actually jacks up the rate they offer you.