Many people don’t apply for a personal loan despite having the eligibility. It is mostly because they are unaware of the exact loan EMI to be paid.
Being unaware of the EMI amount may lead to inefficient financial planning. And that’s why they keep away from applying for the loan.
But with tools like the online personal loan calculator available, you can relax and know the exact EMI amount you have to pay earlier.
Read on and explore how you can calculate loan EMIs by using the personal loan EMI calculator!
Here’s how you can calculate your personal loan EMIs
- Land on the website of the lender you want to apply for the personal loan with.
- Access the personal loan EMI calculator.
- On the personal loan EMI calculator, choose your desired loan amount, tenure you wish to repay it within and the applicable rate of interest.
- Once done, the personal loan EMI calculator will showcase an exact EMI amount payable, along with the total
interest charges. The tool will also display the overall cost of the loan (principal + interest).
Once you are aware of the precise personal loan EMI amount, you can easily know if your income can support it or not.
If yes, you can start applying for the loan straight away. If not, you can reduce the loan amount and check the EMI figure again and then decide.
The personal loan EMI calculator gives you the correct and superfast result. You can also use the facility 24x7 and don’t have to pay any amount for using it.
Bajaj Finserv offers pre-approved offers on small personal loan, home loans, EMI Network and more. It is to make your loan processing faster and super easy.
You can check out your pre-approved loan offers today after sharing your basic details such as your name and mobile number.
