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Free Loan Interest Calculation Software for Multiple Accounts

Erachana Line

Loan Interest Calculator helps you to keep track of your Loans and Outstanding Amounts in each Loan by the creation of multiple Interest calculation accounts and calculating Interest Amounts.

Loan Interset Calculator

ERachana Technologies has developed Loan Interest Calculator a simple solution for calculating interest for various loans using Simple Interest Calculation Method.

This Application helps you to keep track of your Loans and Outstanding Amounts in each Loan.


Many times, we come across situations where one has to keep track of multiple borrowings, especially in case of businesses. Most businesses have more than one loan and keeping track of these loans, their payments, accruing interests and outstanding amounts becomes a tedious task.


Keeping this in mind, ERachana Technologies has come up with a Simple Loan Interest Calculation Utility, where it becomes very easy to keep track of the final outstanding amount while having multiple loans. It serves as a loan borrowing calculator for you, using which you can plan your monthly repayment of loans. This Utility can be used as a Quick Loan Calculator for calculating Interest amounts for your Personal Loans. If you have taken personal loans or if you are giving out personal loans then this software will be very helpful to you. When a loan is given by the bank, Interest Calculation is done by banking software.

Just enter the basic details like Amount Borrowed, Date of borrowing, and Rate of Interest. Then, as you make payments, enter the amounts and dates. If new borrowings are made, enter the borrowed amount. The software will calculate the final outstanding amount and Interests Accrued just by using this basic data and spare you the hassles of complicated calculations.

You can keep track of your Loans and Outstanding Amounts and also Interest accrued in each case.




Features

  • Easy and Fast Deployment
  • Easy to track different Loans with Multiple Accounts
  • Easy to calculate Interest accrued
  • Running Balance is updated after every payment or borrowing.
  • Excel Export of Loans Data
  • Low Cost Application
  • High Security to Data

Benefits

  • Calculate Monthly loan Payouts
  • Cash Loan Interest Calculator
  • Estimate Personal Loan Payment
  • Find out Running Balance with Each Transaction

How to use Loan Interest Calculator Application?

The Loan Interest Calculator can be installed in the same way as any other standard windows application. Download, Install and Register the Loan Interest Calculator Application from our website www.erachana.net. Installation & Registration is explained in detail in other videos.

Once you complete registration, create a New File and Select Settings.


To Create a New File

1. Click File menu and New File


Loan Interset Calculator

2. Name the file and click Save.


File to Save

Select Settings

1. Click Settings in Main Menu


Main menu for loan interest calculator

2. This application can be used by Selecting Settings –Lender or Receiver and Click Save.


Selecting Settings

In this Help, We have taken the example of a Receiver managing his details.


Loan Details

Once the Settings are selected, Loans can be added into the Loan Interest Calculator.


To Add Loan Details

1. In Main Menu, click Loan Interest Calculator.


Main menu


2. Loan Details screen appears.


Details for loan interest calculator

3. Enter Loan Details - Loan Name, Rate of Interest and Remarks.


Loan details like loan name and rate of interest

4. Enter the date of the transaction in Transaction Date. In Subsequent transactions, Auto Date automatically shows the date of the previous transaction.


Transaction date

5. Once you save Transaction Date, Given or Taken Amounts, the rest of the details are calculated automatically.


Quick loan Calculator

6. You can see the number of days since the last Transaction in the NOD, Calculation Amount,Interest Amount and Outstanding Amount in Running Balance.


Outstanding amounts

7. Click Update and then click Save to save your transaction.


Updating transaction

8. You can see your Current Loan transactions in the grids.


Current loan transactions

To Add a New Transaction in a Loan


Click Add button and Enter details to add any new Payment or Borrowing as explained above.


New payment

To Add Multiple Loans

1. Click New and Enter details as previously explained.


Entering Details

2. Click Save.


Saving the data

You can see the details of different loans added in the bottom grid.


Different loans

You can also see the Summary of Current Loan in Current Running Balance and Current Loan Interest and Summary of all Loans in Total No. of Loans, Total Interest Calculated and Total Running Balance.


Total number of loans

You can Export the Calculation of a Particular loan or Summary of all the loans to Excel


Export the clculation


This application is useful to track Interest Calculations and Outstanding Amounts for frequent Lenders and Borrowers.



Loan Interest Calculator Release Notes

Release 1 on 9th October 2017 version 1.0.0.0


a) Allow users to do enter Multiple Loan Details

b) Allow users to multiple transactions for a given loan

c) Calculate Simple Interest using given Rate of Interest

d) Allow users to choose among Lender or Receiver