Calculation of Interest on Loan from Bank/Other Financial Institution.
An excel based software has been created to check interest/Balance of any loan taken from Bank/Other financial institution. It is really not easy to calculate Interest charged by bank/others on loans for an individual. In viewing this problem, the following excel file has been created which is totally free.
Procedure to run this excel file.
- Simply download and extract zip file. You will get excel file.
- Fill only white cell in excel file.
- Initially set date format as per direction:- Start>Control Panel>Regional and Language Setting>Customize>Date>Short date format >dd/mm/yyyy
- There are two sytem of loan Fixed/Floating , If you select Fixed then D2 cell will be effective for Rate of Interest. If you select Floating Method of Loan, then Rate of Interest will be effective in Row E of the excel file means % of rate of interest is available for each row.
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- If you have taken/borrowed loan , then please check it through this excel file and feel free to send suggestions for its further improvement at email email@example.com