Are you thinking of availing the personal loan but unsure what your EMIs will be? If you are thinking about the same, then you are not the only one! Many people are unclear about an exact EMI that they will pay and avoid applying for the personal loan.
Not anymore, you can easily use the online personal loan calculator and calculate your EMIs in advance. This way, you can be aware of the exact EMI amount that you will pay and be in a position to manage your upcoming loan better.
If you want to know how to use the personal loan calculator, then this post is for you!
Here’s how you can use the personal loan calculator online
Land on the website of the lender that you want to apply for the personal loan with.
On the personal loan page, you will find the link to the ‘personal loan calculator’ page. Click on it, and you will be redirected.
Once you are on the personal loan EMI calculator page, you will need to enter a few basic details of your loan to know the EMI amount.
Enter your desired personal loan amount.
Choose the tenor you will repay the loan EMI within.
Select the applicable personal loan interest rate.
Once you enter these details on the personal loan calculator, the tool will now showcase the exact EMI amount.
Not only the EMI amount, but the personal loan calculator will also display the total personal loan interest rate and total cost of the loan (principal + interest).
With a personal loan calculator in action, you can save your time and efforts of calculating the EMI amount manually. What are you still waiting for? Start using the personal loan calculator online and get one step closer to the loan.