Menu
Online Banking Solution India
There are many requirements and necessities that a person must meet in life. Most of them require urgent attention like education, housing, debt consolidation, weddings, medical expenses, and other things. It becomes difficult for many families to afford these expenses and give their children a brighter and better future.
People apply for a personal loan so that they can accommodate these expenses without much financial burden. They take these loans on EMI so that the repayment becomes more manageable with the help of instalments that should be paid every month. There are many loan calculators for calculating the approximate EMI that must be paid by loan borrowers. An EMI is a fixed monthly payment, part of the equally divided repayments, used to clear off outstanding loans. The personal loan calculator calculates the EMI depending upon the principal loan amount, rate of interest and loan tenure. The formula used by the calculator is- E = P x r x (1+r) ^n / ((1+r) ^n-1)
The personal loan EMI calculator brings the following advantages.
EMI may affect the monthly expenses until repayment. Some simple steps that can help reduce the loan EMI and manage outlays easily:
The personal loans calculator is a great tool to help calculate the EMI of any loan taken by individuals from banks. It can help them plan and regulate their expenses.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
October 2020
Categories |