EMICalculator.site
This calculator will help you find the rate of interest on a loan, given the loan amount, repayment amount, payment interval and tenure of the loan. Knowing the loan rate will help you determine if a loan commitment is right for you.
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It is not possible to solve for r (interest rate per annum in %) by rearranging the the loan formula outlined on the page for loan repayment. So we calculate the loan rate by guessing a value until it satisfies the loan equation, together with other values.
Disclaimer:- The content of this website does not constitute financial advice and is solely meant for information purpose. The calculations are accurate as per the prescribed formula.