Saturday, April 18, 2009

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.
  • Stay connected with for further updates.
  • 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

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