Frequently asked questions

It bundles five financial calculators into one Android app: loan EMI with a full amortisation schedule, DPS maturity for recurring deposits, SIP growth projection for regular investing, FDR returns for lump-sum term deposits, and DBR to check how much of your income is already committed to debt. Each has its own screen and its own set of inputs.

The app is free to download and all five calculators are fully available. There are no in-app purchases, no subscription and no locked features in the current release.

No. There is no sign-up, no login, no KYC and no profile. Open the app and start calculating. Without an account there is no server-side copy of your financial figures to protect or leak.

Yes, completely. Every calculation runs locally, which matters because bank branches often have poor mobile signal and that is exactly where you need the numbers.

No. EMI Calculator is an independent arithmetic tool published by Apps Bean Technologies, a software company. It is not a bank, lender, broker, aggregator or lead-generation service. It has no loan application form, does not forward your details to anyone, and earns nothing from any financial institution.

The app ships with US Dollar as the default currency, and the symbol is configurable in Settings — pick the one your bank uses. The mathematics is currency-neutral, so the calculators work equally well for any currency; only the symbol and digit grouping change.

The app defaults to international grouping — 1,234,567 (thousand and million). If you read figures faster in the South Asian lakh-crore style — 12,34,567 — Settings lets you switch, since misreading a digit group is an easy and expensive mistake.

It is com.appsbean.emicalculator, published by Apps Bean Technologies. Verify both before installing — financial calculators attract imitation apps.

Currently the app is Android only, though the calculators on this website's Features page work in any browser. Apps Bean Technologies builds for iOS and the web too, so other platforms may follow.

An Equated Monthly Instalment is a fixed payment made every month until a loan is fully repaid. It covers both interest and principal. The amount stays constant, but the split inside it changes: early instalments are mostly interest, later ones are mostly principal.

The standard reducing-balance formula: EMI = P × i × (1+i)ⁿ ÷ [(1+i)ⁿ − 1], where P is the principal, i is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. This is the method used by banks across South Asia.

Several reasons, usually in combination: a processing or documentation fee added to the principal; a mandatory insurance premium; broken-period interest between the disbursement date and the first instalment date; a different day-count convention; and each lender's own rounding rule. A difference of a few taka a month is normal. A difference of hundreds means an extra cost you should ask about explicitly.

Under reducing balance, interest is charged on the outstanding amount, which falls every month. Under a flat rate, interest is charged on the original principal for the whole term regardless of what you have repaid. A flat rate of 8% is roughly equivalent to a reducing-balance rate of about 14–15% — a very large difference disguised by a smaller-looking number. This app uses reducing balance. If a lender quotes a flat rate, ask for the reducing-balance equivalent before comparing.

It is a trade, not a right answer. A longer tenure lowers the monthly instalment but increases total interest substantially. A shorter tenure costs less overall but demands more each month, and an instalment you cannot sustain is worse than one that costs more. Use the app to see both totals, then choose the shortest tenure you can comfortably service in a bad month, not a good one.

The calculation assumes the rate you enter holds for the full term. For a floating-rate loan, run the calculation two or three times — at the current rate, and at rates one and two percentage points higher — to see how exposed you are. Lenders usually respond to a rate rise by extending the tenure rather than raising the instalment, so the visible cost is the total, not the monthly figure.

Not automatically, because these vary by lender and product. A useful workaround: add the fee to the loan amount if it is financed, or treat it as an upfront cost separately. Insurance premiums bundled into the instalment should be added to the EMI figure manually when comparing offers.

A moratorium delays the start of repayment, common with home construction and education loans. The app calculates from the first instalment onward and does not model the moratorium itself. Note that interest usually continues accruing during a grace period and is added to the principal, so the loan you begin repaying is larger than the one you were sanctioned.

Yes — enter the current outstanding balance as the principal and the number of instalments remaining as the tenure. That gives you an accurate picture of the remainder rather than the original loan.

The app divides the principal evenly across the tenure, which is the mathematically correct result. Be cautious with real-world "0% interest" offers, though — the cost is often relocated into a processing fee or an inflated purchase price rather than removed.

A period-by-period table showing, for each instalment, how much goes to interest, how much reduces the principal, and what balance remains. It is the single most useful document for understanding a loan, and most borrowers never see one.

Because interest is charged on the outstanding balance, which is at its highest at the start. In the first month of a 20-year home loan, often 80% or more of the instalment is interest. That share falls every month as the balance drops, which is why the split bar shifts steadily across the schedule.

A prepayment goes entirely against principal. Removing principal early removes every future interest charge that principal would have generated, compounding across the remaining term. This is why an early prepayment saves far more than the same amount paid late in the term — and why prepaying in year two of a twenty-year loan is dramatically more effective than in year fifteen.

Reducing the tenure saves considerably more interest, because you keep paying the same amount against a smaller balance. Reducing the EMI improves monthly cash flow instead. Model both by re-running the calculation with the new balance — once with the original instalment and once with the original end date.

Often, yes, particularly on fixed-rate loans and within the first few years. Charges are typically a percentage of the amount prepaid. The app does not model these because they vary by contract — check your sanction letter, and weigh the penalty against the interest saved before deciding.

Yes, the app offers both. Yearly is easier to scan for the overall shape; monthly is what you want when reconciling against a bank statement.

You can share a result summary as an image. Full spreadsheet or PDF export of the complete schedule is a logged feature request — tell us if you need it and it moves up the list.

A Deposit Pension Scheme is a recurring deposit product: you commit to paying a fixed amount every month for a fixed term — commonly 3, 5, 8 or 10 years — and the bank pays profit on the accumulating balance. It is a disciplined savings vehicle rather than a pension in the retirement sense.

Because each instalment earns for a different length of time. Your first deposit earns profit for the entire term; the last one earns for a single month. The maturity value is the sum of every instalment compounded over its own remaining period, which is what the annuity formula computes.

M = D × [(1+i)ⁿ − 1] ÷ i, where D is the monthly deposit, i the monthly profit rate and n the number of instalments. This assumes deposits at the end of each month with monthly compounding.

Slightly, yes — usually a small amount on typical DPS terms. The calculator uses monthly compounding, which is the most common convention. Treat the output as a close estimate and confirm the exact maturity figure from the scheme brochure, which banks are required to state.

Because profit on bank deposits is generally subject to tax deducted at source, so the amount that reaches your account is less than the gross maturity figure the brochure advertises. The field is editable because the applicable rate depends on your circumstances — in Bangladesh it commonly differs depending on whether you have filed a return.

Most banks charge a penalty and some close the account after a set number of consecutive misses, converting it to a lower savings rate. The calculator assumes every instalment is paid on time. If you have missed payments, the real maturity will be lower — ask your branch for a revised projection.

Usually yes, but premature encashment normally forfeits much of the accrued profit, sometimes paying only a basic savings rate. Because DPS returns are back-loaded, closing early is disproportionately costly. Check the penalty schedule before committing to a long term.

They answer different questions. A DPS suits someone saving out of monthly income; an FDR suits someone who already has a lump sum. Comparing headline rates alone is misleading, because in a DPS your average balance is far lower than your total deposits. Run both calculators with your actual numbers rather than comparing percentages.

A Systematic Investment Plan invests a fixed amount at regular intervals — usually monthly — into a fund, rather than committing a lump sum at one moment. Because you buy at many different price points, the average purchase cost tends to smooth out over time.

The formula is nearly identical — both are future value of an annuity — but the SIP version multiplies by an extra (1+i) because contributions are conventionally treated as made at the start of each period. The far more important difference is conceptual: a DPS rate is contractual, while a SIP return is an assumption you are making about an uncertain market.

We deliberately do not suggest one, because doing so would edge into advice. What we would say is: run the projection at several rates, including a pessimistic one, and treat the pessimistic figure as your planning number. A projection built on an optimistic assumption is not a plan.

No, and this deserves emphasis. The calculator assumes a steady annual return. Markets do not deliver steady returns — they rise and fall, sometimes sharply, and the value of an investment can fall below the amount you put in. The output is a mathematical illustration of an assumption, not a forecast and not a promise.

Not directly. The projected figure is in nominal terms. To think in today's purchasing power, subtract your expected inflation rate from the return rate and use that lower figure — the result then approximates the real value.

No. Expense ratios, exit loads and any applicable tax reduce real returns and vary by fund and jurisdiction. A rough approach is to reduce your assumed return by the expense ratio before calculating.

Adjust the monthly contribution until the projected value reaches your target — with the slider this takes only a moment. A dedicated goal-based mode that solves for the contribution directly is on the feature request list.

No, and it never will. EMI Calculator does not name, rank, rate or recommend any fund, scheme, bank or financial product, and has no commercial relationship with any financial institution. It only does arithmetic on numbers you supply.

A Fixed Deposit Receipt places a lump sum with a bank for a fixed term at a fixed rate. In return for locking the money away you generally receive a higher rate than an ordinary savings account.

More frequent compounding means interest starts earning interest sooner. Two banks can both advertise 9% and pay different amounts — one compounding quarterly, another annually. The gap is modest over one year and meaningful over five or ten. The calculator lets you switch frequency so you compare like with like.

A = P × (1 + r ÷ f)^(f × t), where P is the deposit, r the annual rate as a decimal, f the number of compounding periods per year, and t the term in years.

A cumulative FDR reinvests interest and pays everything at maturity — that is what this calculator models. A non-cumulative FDR pays interest out monthly or quarterly as income, so there is no compounding and the maturity amount is just your original principal. If you need regular income, choose non-cumulative and expect a lower total return.

The rate that applies to you. In Bangladesh, tax deducted at source on bank interest commonly differs depending on whether the depositor has filed an income tax return, and rates are revised in the annual Finance Act. Because the correct figure depends on your status and the current year, the field is editable rather than fixed — confirm the applicable rate with your bank or tax adviser.

Premature encashment normally attracts a penalty and pays a reduced rate — sometimes the rate for the period actually completed, sometimes a basic savings rate. The calculator assumes the deposit runs to maturity. Check the penalty terms before choosing a long tenure for money you might need.

Approximately, by entering the total combined period as the term. That assumes the same rate applies throughout, which is unlikely across renewals — rates move. For a more realistic picture, calculate each term separately using the maturity amount of one as the principal of the next.

The proportion of your monthly income already committed to repaying debt, expressed as a percentage. Lenders use it to judge whether you can afford another instalment. It is calculated as total monthly obligations divided by net monthly income, multiplied by 100.

Generally every existing loan EMI, credit card minimum payment, overdraft servicing, lease or hire-purchase instalment, and the proposed new EMI. Some lenders also include guarantees you have given on someone else's loan. Household expenses like rent and utilities are usually excluded from DBR but are separately assessed.

Net — take-home pay after tax and statutory deductions. Using gross income flatters the ratio and produces a number your lender will not recognise. Where a lender includes bonuses or rental income, they usually apply a discount factor to the irregular portion.

The one your lender uses. Limits differ by institution, product type, income band and prevailing regulatory guidance, and they change over time. That is precisely why the ceiling is an editable field rather than a hard-coded number — ask your bank what threshold they apply and enter it.

No. DBR is one input among many. Lenders also weigh credit history, employment stability, length of service, age relative to tenure, collateral, existing relationship, and their own risk appetite at that moment. The app makes no prediction about approval and produces no credit score.

Four levers: clear or consolidate an existing obligation; reduce the amount you are asking for; extend the tenure of the new loan, which lowers the instalment though it raises total interest; or increase documented income. Model each in the calculator to see which moves the number most.

Because a percentage can hide reality. Two people can both sit at 45% while one has $ 2,750 left to live on and the other has $ 550. The absolute figure is often the more honest test of whether a loan is affordable.

No. Your income and obligations are typed into your phone, calculated on your phone, and stay there. Nothing is sent to us, to a lender, or to a credit bureau. There is no mechanism in the app by which that could happen.

No. Loan amounts, rates, incomes, obligations and deposits are processed on your device and stored only in the app's local storage. They are not transmitted to us and are not attached to analytics events or crash reports.

No. We do not sell, rent, broker or share your information with lenders, insurers, marketers or data brokers, and we have no commercial arrangement under which we could. This is a calculator, not a lead-generation funnel.

Only for optional crash and usage diagnostics, which tell us that a screen failed on a particular device model. Every calculation works with the connection off — try it in aeroplane mode.

No. The app requests no SMS, contacts, call log, location, camera or microphone permission at all. Some financial apps ask for these; this one has no reason to and does not.

Delete saved calculations individually, use the clear-all option in the Data & privacy screen, or wipe everything at once via Android Settings → Apps → EMI Calculator → Storage → Clear data. Uninstalling removes all locally stored information.

The current release shows no advertising, no lender promotions and no affiliate financial products. If that changes, the privacy policy and the Google Play Data safety declaration will be updated before the release ships.

Only if Android's own backup service restored them during a device restore. Because there is no account and no cloud sync, the app keeps no copy. Note down anything important elsewhere.

Email info@appsbean.com with the exact inputs you used, the result the app showed, the result you expected, and where your expected figure came from — a bank quote, a brochure, another calculator. Financial bugs are reproducible from those four things, and we treat them as high priority.

Usually a field is empty or a tenure is set to zero. Check that the amount, rate and period all contain values. For DBR, the ratio needs a non-zero income to be meaningful.

Extremely large inputs can overflow the layout on small screens. If the figure is very large, consider switching the number format in Settings, or report the specific figure and device so we can fix the formatting.

Update to the latest version, restart the device, and check free storage. If it persists, email us your device model, Android version, app version and the screen where it happens. Crash reports usually reach us automatically, but your description tells us how to reproduce it.

The current release is in English. Apps Bean Technologies builds Bengali-language software regularly and localisation is planned — tell us it matters to you and it moves up the queue.

Email info@appsbean.com with "EMI Calculator — Feature request" in the subject, or leave it in a Google Play review. Already logged: spreadsheet export of the full schedule, prepayment modelling, goal-based SIP mode, multi-loan comparison and Bengali localisation.

No — and we would be wary of any app that did. We are a software company, not licensed financial advisers, and recommending products would be both outside our competence and legally regulated activity. We can help you understand what the app is calculating and fix it if the arithmetic is wrong. For product choice, speak to a qualified adviser or compare written offers directly.

We aim to acknowledge within 3 business days. Privacy and data deletion requests are answered within 30 days and usually sooner. Office hours are Saturday to Thursday, 10:00–18:00 Bangladesh Standard Time (UTC+6).

Apps Bean Technologies, a software and ICT solution company in Sreepur, Gazipur, Bangladesh. The team also builds websites, business software, SaaS platforms, payment gateway and SMS gateway integrations. Details on the contact page.