In this post I will provide you with excel based calculator to convert reducing balance rate to flat interest rate. A t the time of publication of 4-in-Loan Calculator (to calculate EMI, interest rate, loan period or Loan Affordability), I promised to design an interest rate converter to help you convert flat rate of interest to monthly reducing balance rate and vice-versa. Reducing balance to flat interest rate converter-Excel. Flat rate to reducing balance rate Excel calculator.
I have previously written on Personal Loan interest rate.
A flat rate is a type of interest rate which is calculated on the entire amount of loan throughout its tenure. Most efficient method for converting flat rate interest to APR. Easy way to convert reducing rate to flat, simply flat rate divided by 1. This calculator provides a method of comparing compound and flat rates of interest.
For example, an APR of 7. EMI calculator works on the basic principle of interest calculation. Effective Interest Rate equivalent. Before you take a home loan or a vehicle loan be sure to calculate your emi on emicalulator available on emicalculator.