Whether it’s a marriage expense or a travel expenditure, personal loans are ideal to your meet short-term financial needs. However, before applying for a personal loan it’s better to assess your repayment capacity since personal loans are generally offered at a higher interest rate as compared to other secured loans such as home loans or car loans. For this, you can use a personal loan EMI calculator. The calculator will help you understand the equated monthly installments (EMIs) that you will need to pay throughout your loan tenure. In order to calculate your EMIs, you need to fill in the following inputs – loan amount, interest rate and loan tenure. After filling in these inputs, press ‘calculate EMI’ button to get your monthly installments, the monthly break-up of the interest rates, principal amount, etc.
A personal loan EMI calculator comes with several benefits such as: a) It saves you from tedious calculations by calculating EMIs in seconds. b) Using an online calculator will give you accurate results. c) A personal loan EMI calculator gives you an idea as to how much money you will need to set aside from your monthly income. d) It also allows you to view the amortization schedules and EMIs for various combinations of loan tenures and interest rates. So, with the help of an online EMI calculator, you can also save yourself from tedious calculations and plan your finances well.
A personal loan EMI calculator comes with several benefits such as: a) It saves you from tedious calculations by calculating EMIs in seconds. b) Using an online calculator will give you accurate results. c) A personal loan EMI calculator gives you an idea as to how much money you will need to set aside from your monthly income. d) It also allows you to view the amortization schedules and EMIs for various combinations of loan tenures and interest rates. So, with the help of an online EMI calculator, you can also save yourself from tedious calculations and plan your finances well.
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