Any kind of loan is a long-term financial commitment. Therefore, it is advised to rightly weight the do’s and don'ts while applying for the loan to ensure you can pay it off on time. Moreover, you must also take time to reevaluate your finances so you can manage the loan well.
You may use the EMI calculator available at the lender’s official website. It is a simple tool which is toggled to get the results/ monthly EMIs. You simply have to enter the loan amount, repayment tenure and rate of interest and move the slider to get the results.
Once you are aware of the monthly repayments you can start paying for the loan without compromising your lifestyle. This is a simple and convenient tool which can be used from the comfort of your home or office and even multiple times. You can be assured of accurate results as it eliminates the errors caused due to traditional/ manual calculations. As these calculators use a specific formula to arrive at results.
In addition, the calculator not only discloses your monthly repayments but also gives an idea of the way the loan will progress. Also, called the amortization table which helps loan seekers to pre-plan the loan accordingly.
No matter which loan you apply for, you will find the relevant calculator pertaining to its calculation formula on its online page. Once you are sure of the repayments you may apply for Personal loan from the online page of leading lenders such as NBFCs. They are experienced lending institutions offering high value loan amount at affordable rate of interest and flexible repayment tenure.