The Equated Daily Installment (EDI) Calculator helps determine the fixed daily payment a borrower must make to repay a loan over a specified period. It is especially useful for short-term micro-loans, daily repayment credit lines, or any financial product that requires daily payments rather than monthly ones.
The tool breaks down a loan’s repayment into manageable daily amounts while considering interest over time. Borrowers and lenders use it to plan repayment schedules, compare loan offers, or assess affordability.
Formula of Equated Daily Installment Calculator
Desglose detallado:
- EDI = Equated Daily Installment (daily repayment amount)
- P = Principal loan amount (total borrowed)
- r = Intereses diarios y
Si conoces el annual interest rate (R), convert it like this:
r = R / (100 × 365)
- n = Total number of days for the loan
- d = Frequency of payment in days (for daily payments, d = 1)
The formula adapts the standard EMI formula for daily repayment cycles by adjusting the interest rate and compounding period.
Tabla de referencia común
| Monto del préstamo (P) | Tasa de interés anual (R) | Loan Tenure (Days) | EDI (Approx.) |
|---|---|---|---|
| $1,000 | 12% | 100 | $10.67 |
| $2,000 | 10% | 60 | $34.68 |
| $5,000 | 15% | 180 | $30.52 |
| $1,500 | 8% | 90 | $17.25 |
These values are approximate and rounded for ease of reference. The calculator provides more accurate values by computing all variables precisely.
Example of Equated Daily Installment Calculator
Imagine you borrow $2,000 at an annual interest rate of 12% to be repaid over 90 days.
- Convert the annual rate to daily:
r = 12 / (100 × 365) = 0.0003288 - Use the formula with:
P = 2,000
r = 0.0003288
n = 90
d = 1
The EDI comes out to approximately $ 22.69 por día. This amount will be consistent throughout the loan term, covering both principal and interest.
Preguntas frecuentes más comunes
EDI stands for Equated Daily Installment, which is a fixed amount you repay every day to cover both the loan principal and interest.
Yes, EDI is calculated for daily repayments, while EMI is for monthly repayments. The structure is similar, but the frequency differs.
Yes, many small business loans and microfinance products use daily repayments, and EDI helps structure them efficiently.