loan calculate day basis

[actveme]

i am new of this forum and i want help.please help me for loan calculate of day basis, i work in a school and require loan account of every teacher's.

Interest calculate of co operative bank of India day basis. i.e. which date loan taken and which month then interst will be counted this date.

exam:- i loan taken 5th September and interst count 5th to 30th september,

ram loan taken 4th february and interst count 4th to 28th february

shyam loan taken 1st january and interst count 1st to 31th january


Actualy this system of my school two type loan given to teachers 1) From Bank :- Mesor Loan, it is maximum period 5 years. 2) from school socity :- shortterm loan :- loan principle amount can fixed by teacher wish, i.e. Rs.500 or Rs2000 and interst count will be date wise.

school have another system: i.e. bank loan interst 12% but socity take 13%, 12% by bank and 1% interst profit of socity



please help and make and excel chart,formula of 10 or more teachers loan list and socity list.
2) day basis loan system, which date loan taken.
3)short term loan ;- day basis which date loan taken and principle cutting of employ's wish


please please dont ignore me

[Rahul Nagar]

Hello actveme,

1st Read the Forum Rules and change the thread title.

[Rahul Nagar]

check the following link.

http://www.excelforum.com/excel-gene...-schedule.html

good example for loan calculate.

[actveme]

check the following link.

http://www.excelforum.com/excel-gene...-schedule.html

good example for loan calculate.

thank you sir for reply but this is not work,

Loan amount: 2,50,000
Loan term :- 5 years
Interst;- when Loan Taken i.e. 5th september and interst calculate only day basis
Principle :- Fixed i.e. 250000/60( 5 year* 12 Month)= 4167
Balance:- for next month 245833(250000-4167)
first month interst 12%:- 250000*12%*26/365=2136(September)
2nd month interst :- 245833*12%*31/365=2505(October)
3rd month interst:- 241667*12%*30/365=(November)