How to Create a Reducing Balance EMI Calculator in Excel | Free Template

[@thilinabandara4861]

Thank you very much ❤

[@xlpedia]

You're welcome 😊

[@innayasharma2111]

Can you please make same video for calculating emi for 5 years

[@xlpedia]

You can just change the Number of EMIs (nper) from 12 to 5*12=60, increase the month series from 1 to 12 to 1 to 60, and autofill the formulas. Anyway, to save you some time, I just quickly made one for you. Find the link in the description.

[@NidhiMangrolaVekaria]

How to lock the function

[@xlpedia]

If you mean locking the cell reference, press F5. But if you want to protect the formula from being edited, protect the formula cell instead. Select the formula cell, then right-click and go to Format Cells (Ctrl+1), go to the Protection tab, check the Locked checkbox and click OK. Now protect the worksheet from the Review tab.

[@carlchristopher2534]

Is there a way to add the ability to see what would happen if a person made a higher payment on a given month.

[@xlpedia]

Well, you can add a 'Special Payments' column just before the Total Payment column and link it in the calculation of Total Payment.

[@sameernarkhede3306]

Can you make loan sheet for me? I can explain if we can communicate.

[@xlpedia]

Ok. You can reach out to me via Facebook or Instagram. But, it'd be helpful if you just gave a glimpse of the requirements for your loan sheet.