Random Rants & Raves

An update on the blog after quite a while – and that too to announce a new Windows Phone 7.5 app I pushed to the MarketPlace! This is an personal finance utility app for calculating loan (mortgage) payments (called Equated Monthly Installments) or EMIs and the amortization schedule for it. The app can be used by both individuals or bank loan agents. You can either click here or search for “EMI Amortization” in your Windows Phone or Zune. This post details some of the things you can do with it.

When you start up the app you are presented with a Panorama with 4 screens to it:

Screen 1 – Loan Details: You enter the details of the loan you are taking – the amount, rate of interest and the number of years and the mortgage EMI is calculated automatically and shown to you here.

Screen 2 – Amortization Schedule: this shows you the full list of the amortization you pay up for the entire loan amount for each month. You can see the month, the balance remaining, and the interest and principal amounts you are paying each month. You can also click on any of the items in this list to see even more details about that month’s payment.

Screen 3: Settings: This allows you to do a couple of different things. You can change the start date of the loan – this will change the dates shown in the amortization schedule. You can also change the background image in the panorama by selecting a new image from your Pictures Hub or clicking a new photo. You can of course revert back to default from here too.

Screen 4: Send Details: This lets you quickly insert the important information regarding the loan and send it as an email or SMS. This is quite useful for loan agents who wish to calculate a loan for a potential client and then send them the information. Simply click the relevant buttons at the bottom, select or type in the email ID or phone number and send the details.

The app is available in both Trial and Paid mode. The Trial version has the following limitations:

1. Your loan details are not saved when you exit the app and they are not loaded back when you return. You will need to enter the data again.
2. You cannot send the loan details by email or SMS.

Feel free to try out the app and use the Help screen (available from the settings page) to send any feedback you might have.