Are you looking to get a personal loan to cover many of your needs and desires? If yes, then you have the freedom to apply for an online personal loan?
Based on your personal loan eligibility, you can secure a loan of up to Rs.25 lakh from a known bank and non-banking finance companies (NBFCs) in India.
But what if you are unaware of an exact loan amount that will be approved or an exact payable EMI amount on it?
While you can calculate all these manually, it will not only take your time, but the results may also not be accurate.
It is where you can’t rule out the significance of an online personal loan calculator. Want to know more about this? Read this quick post!
What is an online personal loan calculator?
As the name suggests, an online personal loan calculator can help you calculate many aspects of a personal loan that you want to avail. Two of the most popular online personal loan calculators are EMI and loan eligibility calculator. It is available free of cost on your lender’s website.
What is the significance of using the online personal loan calculator?
You can get an exact loan amount that you can avail depending on your income and other eligibility parameters. (Personal loan eligibility calculator).
You can get to know an exact EMI amount that you will pay on an ensuing loan amount. (Personal loan EMI calculator)
It will be possible to know an accurate interest amount that you will end up paying on a loan figure.
You can also know about the full payment of the remainder of an ongoing loan in one payment by using the personal loan foreclosure calculator.
By using the Personal loan part prepayment calculator, you can know an exact EMI that you will pay before the payment due date.
Simply put, by using any of the online personal loan calculators, you can be in better control of the loan before applying for a loan and during its course of repayments.