1 / 7

Worrying About Your Personal Loan EMI? Here Are All Your Answers

A Personal loan is a kind of unsecured loan given to the customers to get them out of their financial emergency. These financial emergencies vary from people to people. Somebody would be wanting the money so that he can clear the credit card due amount. Somebody wouldu2019ve needed it so that he can bear the expenses for his abroad trip. Somebody would be wanting it for her childu2019s education management. And there can be various kinds of situations arise where people would be needing urgent money. Thatu2019s when a personal loan comes to their rescue acting as a savior. Almost all the leading banks and financial institutions provide the facility of the personal loan to their customers with a competitive rate of interest and flexible repayment methods.

sharmaanika388
Download Presentation

Worrying About Your Personal Loan EMI? Here Are All Your Answers

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Worrying About Your Personal Loan EMI? Here Are All Your Answers

  2. A Personal loan is a kind of unsecured loan given to the customers to get them out of their financial emergency. These financial emergencies vary from people to people. Somebody would be wanting the money so that he can clear the credit card due amount. Somebody would’ve needed it so that he can bear the expenses for his abroad trip. Somebody would be wanting it for her child’s education management. And there can be various kinds of situations arise where people would be needing urgent money. That’s when a personal loan comes to their rescue acting as a savior. Almost all the leading banks and financial institutions provide the facility of the personal loan to their customers with a competitive rate of interest and flexible repayment methods.

  3. But there’s a catch in it which many people seldom miss to notice. This catch is the amount of EMI. This is the amount that a customer has to pay every month to make the repayment of the loan. Very few people realize the importance of knowing the accurate amount of EMI; abbreviated from Equated Monthly Installments. Ignoring this will only result in a burning hole in your pocket, that too on every month. And you’ll have no option other than regretting it. So if you’re planning to take a personal loan and want to know the importance of knowing the apt EMI amount, this article has all the elements to satiate all your doubts about it. We will talk about the importance of EMI Calculator of Personal Loan.

  4. Significance of EMI Calculator of Personal Loan: The EMI calculator is nothing but a magical tool in calculating the right amount of EMI for your personal loan. Here are a few significant points about why it is so effective and substantial in calculating the EMI. • Through the EMI Calculator of Personal Loan, a person can easily manage his finances in an organized way as it makes you able to calculate the right amount of monthly installments for your personal loan. • The calculator’s feature of easy of use makes it accessible for any layman as you don’t need to know mathematics or any other complex subjects to get hold of it.

  5. One can save ample time by calculating the EMI amount through this calculator as it only takes a few seconds to give you the results according to the values filled by you. • The EMI Calculator of personal loan is endlessly adaptable. You can put various values in it and check the desired results as many times as you want. • You can always trust the accuracy of this calculator unlike the manual calculations for the EMI amount. • You can not only get the monthly installments thought it but also the total interest amount you’ll have to pay over the tenure period which makes this tool almost perfect for everyone. • Some EMI calculators also calculate the processing fee involved in the EMI of your loan as it is also a substantial part of your monthly installments.

  6. How to effectively use the EMI Calculator of Personal Loan? The purpose of using an EMI Calculator to know the monthly installments for your personal loan is to plan your finances accordingly. You just need a few basic details to calculate the correct amount for your personal loan repayment. Below are the details about the thing you need to get the EMI amount.

  7. Loan Amount: The amount of loan which you want to take from the bank varies from one bank to another bank. It also depends on various factors such as age, monthly income, and other things. • Rate of Interest: You need to put the rate of interest at which you want your personal loan. This also changes from bank to bank. • Tenure Period: The maximum amount you can get a personal loan is 5 years and the minimum is 12 months. After putting all the details in the calculator, you’ll get the EMI amount for your personal loan in a fraction of a second.

More Related