Loan Solver Calculator
Enter any 3 values, select what to solve for, and get the missing loan information.
About Loan Solver Calculator
The Loan Solver helps you find missing loan details. Unlike a normal EMI calculator, it lets you calculate EMI, Principal, Tenure or Interest Rate when you provide the other three.
This is helpful if you know your EMI affordability but want to know how much loan you can get, or if you know the EMI and loan amount but want to know the applicable interest rate.
Frequently Asked Questions
1. What is a Loan Solver Calculator?
It is an advanced calculator that lets you solve for EMI, loan amount, rate or tenure, instead of just EMI.
2. How is this different from a normal EMI calculator?
Normal EMI calculators only calculate EMI. A Loan Solver lets you calculate backwards, finding principal, rate or tenure.
3. Can I find out the maximum loan I can afford?
Yes, by entering EMI, interest rate and tenure, you can solve for loan amount (principal).
4. How is the interest rate calculated?
The interest rate is estimated using numerical approximation, as there is no direct formula.
5. Can this be used for all loans?
Yes, it works for home loans, car loans, personal loans and any loan with fixed EMIs.