An online Absa Calculator for ABSA bank Loan EMI Calculation. The ABSA bank is a South African subsidiary of Barclays Bank Plc, and was originally known as ABSA (Amalgamated Banks of South Africa) Group Limited. Using this ABSA Loan calculator, calculate your monthly EMI for a mortgage loan based on your deposit amount. Enter the values of your original deposit, your mortgage loan amount based on the deposit, the rate of interest, period and click calculate to know the monthly EMI.
A person has a loan amount of Rs. 5000 for a period of 3 years with rate of interest as 8%.
EMI = P x r x (1 + r)n/((1+r)n - 1)
Here, P = 5000, r = 8/(12 x 100), n = 3 x 12