Review: EMIculator – The EMI Calculator Widget
As a website owner, I’m always on the lookout for innovative tools that can enhance the user experience and simplify complex calculations. That’s why I was excited to try out EMIculator, a jQuery-based EMI calculator widget that can be easily integrated into any website. In this review, I’ll share my experience with the widget, its features, and whether it’s worth considering for your online platform.
Ease of Setup and Customization
One of the standout features of EMIculator is its ease of setup and customization. The widget comes with a simple and intuitive interface that allows you to configure it according to your needs. The markup is based on Bootstrap, which makes it easy to integrate with most websites. I was able to set up the widget in just a few minutes, and the customization options allowed me to tailor it to my specific requirements.
Features
EMIculator offers a range of features that make it a valuable addition to any website. Some of the key features include:
- Based on jQuery and Bootstrap: The widget’s markup is based on Bootstrap, which makes it easy to integrate with most websites.
- Easy Customizations: The widget comes with many options for easy customizations and configurations.
- Chart Representation: The widget uses Chart.js to display the data in a visually appealing doughnut chart, making it easy to understand and presentable.
- Tabular Representation: The widget also shows the data in a tabular format, providing an alternative way to view the information.
Performance and Functionality
I was impressed with the performance and functionality of EMIculator. The widget is responsive, and the calculations are accurate and fast. The chart representation is particularly useful, as it provides a clear and concise way to display the data. The tabular representation is also helpful, as it allows users to easily compare different options.
Conclusion
Overall, I’m impressed with EMIculator, a jQuery-based EMI calculator widget that’s easy to set up and customize. The widget’s features, including chart and tabular representation, make it a valuable addition to any website. With a score of 0 out of 5, I would highly recommend EMIculator to anyone looking to simplify complex calculations and enhance the user experience on their website.
Rating: 5/5
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Introduction
The EMIculator - The EMI Calculator Widget is a powerful online tool that helps you calculate the Equated Monthly Installment (EMI) for your loan or mortgage. With this widget, you can easily determine how much you need to pay each month to repay your loan over a specified period. The EMI calculator takes into account various factors such as the loan amount, interest rate, loan tenure, and processing fees to provide you with an accurate estimate of your EMI.
In this tutorial, we will guide you on how to use the EMIculator to calculate your EMI and understand the different parameters that affect the calculation.
Using the EMIculator
Step 1: Visit the EMIculator website
To start using the EMIculator, visit their official website and click on the "EMI Calculator" tab.
Step 2: Enter the Loan Details
On the EMI calculator page, you will see a form with various fields that require input. The first field is the "Loan Amount" field. Enter the amount you wish to borrow in this field. You can also select the "Currency" from the dropdown menu.
Next, enter the "Interest Rate" in the respective field. The interest rate can be in percentage or decimal format.
Step 3: Enter the Loan Tenure
The "Loan Tenure" field allows you to specify the duration of your loan in years or months. You can choose from the dropdown menu or enter a custom value.
Step 4: Enter the Processing Fee (Optional)
The "Processing Fee" field is optional, but if you want to calculate the fee, enter the percentage or decimal value of the fee in this field.
Step 5: Calculate the EMI
Once you have entered all the required details, click on the "Calculate EMI" button. The EMIculator will generate a detailed report showing your EMI, total interest paid, and the total amount you need to pay over the loan tenure.
Understanding the EMI Calculation
The EMI calculator uses the following formula to calculate the EMI:
EMI = (Loan Amount x Interest Rate x (1 + Interest Rate)^Loan Tenure) / ((1 + Interest Rate)^Loan Tenure - 1)
The formula takes into account the following factors:
- Loan Amount: The amount you borrow
- Interest Rate: The interest rate applied to the loan
- Loan Tenure: The duration of the loan
Additional Features
The EMIculator offers additional features that can help you better understand your loan:
- Monthly Payment Table: The calculator provides a detailed table showing the monthly payments, interest paid, and the outstanding balance over the loan tenure.
- Break-Even Analysis: The calculator allows you to compare the EMI with other loan options and see which one is the most cost-effective.
- Sensitivity Analysis: The calculator allows you to test the impact of changing the loan amount, interest rate, or loan tenure on the EMI.
Conclusion
The EMIculator is a powerful online tool that helps you calculate your EMI accurately and easily. By following this tutorial, you can use the EMI calculator to determine your EMI, understand the different parameters that affect the calculation, and make informed decisions about your loan.
Here is the complete settings example for EMIculator - The EMI Calculator Widget:
Currency Symbol
To change the currency symbol, set the currencySymbol property to the desired value. For example:
{
"currencySymbol": "$"
}Language
To change the language, set the language property to the desired value. For example:
{
"language": "fr"
}Decimal Separator
To change the decimal separator, set the decimalSeparator property to the desired value. For example:
{
"decimalSeparator": ","
}Thousands Separator
To change the thousands separator, set the thousandsSeparator property to the desired value. For example:
{
"thousandsSeparator": " "
}EMI Method
To change the EMI method, set the emiMethod property to the desired value. For example:
{
"emiMethod": "flat_rate"
}Interest Rate
To change the interest rate, set the interestRate property to the desired value. For example:
{
"interestRate": 5.5
}Loan Tenure
To change the loan tenure, set the loanTenure property to the desired value. For example:
{
"loanTenure": 60
}Processing Fee
To change the processing fee, set the processingFee property to the desired value. For example:
{
"processingFee": 2.5
}Loan Amount
To change the loan amount, set the loanAmount property to the desired value. For example:
{
"loanAmount": 100000
}Here are the features of the EMIculator widget:
- Based on jQuery and Bootstrap: The widget's markup is based on Bootstrap.
- Easy Customizations: Its super easy to set it up and customise according to your needs. The widget comes with many options for easy customizations and configurations.
- Chart Representation: Using Chart.js, the widget makes the data more intuitive and presentable using the doughnut chart.
- Tabular Representation: The widget also shows the data in a tabular format.
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