NEW EMI Calculator For Moratorium

In this blog I will share with you how to Calculate additional interest on EMI for Moratorium.

To calculate the same you need to Download the Calculator from above

You can calculate additional cost based on number of Months you have opt for.

Loan Moratorium is from March, April, May, June, July & August. (6 months). But if you have taken Moratorium for less period still this calculator is relevant for you.

For Calculation of same you need following information

  1. Outstanding Principal:
    This can also be called as Balance Loan. Loan you have taken (principal) – Loan Paid (principal) = Outstanding loan/principal. You can easily find the same in you loan account statement.
  2. Interest:
    This should be rate of Interest for you loan.
  3. Remaining Period:
    This will be Loan tenure – EMI Paid
    Example: You have taken loan for 180 Months or 15 Years. And till date you have paid 30 EMI. So you remaining period/tenure will be (180-30) 150 months.

Once you input this above figure the calculation will done and you can check and make the decision according.

Calculation using EMI calculator for Moratorium

Important Points to consider before taking decision on Opting for Moratorium.

  1. Cash flow:
    Check how is you current cash flow? Whether you can pay the EMI for 6 months?
  2. Rate of Interest:
    If you have home loan then your rate of interest should be lower. But if you have some personal loan then the chance chances are the rate of interest will be quite higher.
    So, if your rate of interest is high. Avoid opting for EMI Moratorium or Opt for less period. Say instead of 6 months for 3 moths etc.
  3. Job/ Business:
    Check how your job/business will do in the coming next 1 Year as it may be normal now but due to Covid 19, it may be impacted very badly.

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