If the scarcity of funds is the reason you are pushing your dreams away, personal loans are here to fulfill those dreams So Plan Your Personal Loan Easily. These days Personal Loans are easily & instantly available online at the click of a button.
The best part of personal loans is that these are unsecured loans, i.e. there no collateral or security is required. Personal loans can be used to finance any need whatsoever.
Normally, your reason for opting for a personal loan isn’t even asked during the application process. However, here are a few suggestions for which you can take a personal loan for:
- Medical Requirement
- Education or Specialized Coaching
- Functions or Parties.
If you have dreamt of a destination wedding with your family & friends, or want to spend a little extra for that fairy-tale wedding of your dreams, feel free to apply for a personal loan
If there is a medical crisis where you need a large amount of money.
Education or Specialized coaching
If you want to study further or pay for your child’s education or extra-curricular coaching and need some help with the fees.
If you desire to start your own business and are looking for initial capital or require additional capital for your existing business.
If you wish to travel to your dream destination on vacation, without worrying about the finances holding you back.
Other General Purposes
If you need money for any other thing or any exigency!
What are Personal Loan Calculators?
Personal loan calculators help you evaluate & calculate your eligibility, repayment, know interest rates on offer by various banks and NBFCs and identify the total cost of the loan over its tenure.
It is important to note that while you are enjoying spending the loan amount, there will be EMIs (Equated Monthly Installments) that will have to be paid by you during the entire tenure.
A personal loan EMI calculator will help you understand the EMIs that you will need to pay and the principal & interest payments over the loan tenure. It is crucial to understand these calculations way in advance in order to pay off the loan in time as it may have an impact on your eligibility for future loans.
How to calculate your EMI using calculator?
All you need to do is enter the following amounts to find the answers you need:
- Principal Amount (Loan amount you require)
- Interest Rate
- Tenure of the Personal Loan
You will get a customized solution showing the EMI details, the monthly break-up of the interest rates, principal amount, etc. with a diagrammatic depiction of the future payments.
You can simply edit the input variables and see the revised numbers at the click of a button.