If you are in need of funds to meet your personal expenses, a personal loan is an ideal option for you. The loan has a quick approval and immediate disbursal. Personal loans can be used for any purpose; you can use it for meeting wedding expenses, renovating your house, traveling to your dream destination, or for paying towards any emergencies. It is one of the most preferred forms of borrowing because it does not need any collateral and has simple eligibility criteria.
When you think of a loan, the first thing that comes to your mind is the Equated Monthly Installment (EMI) amount and the rate of interest. You will have to repay the loan in EMIs and it will become a regular monthly outflow for you. This is why it is important to gain an idea about the EMI amount you will have to pay on your personal loan. You can now estimate the EMI using the Personal Loan EMI Calculator on Finserv MARKETS. The calculator is available online and it is easy-to-use. When you use the calculator, you do not need to visit the financial institution’s branch to gain insights about the personal loan EMIthat you will need to pay on the loan.
The calculator is an online tool, which will help you estimate the EMI outflow. It can also be used to plan the amount needed along with the tenure for which you require the loan. It is ideal to use the Bajaj Finserv Personal loan EMI calculator before you make the loan application.
A personal loan EMI calculator is an interest-only loan calculator. This means that it will only consider the loan amount, tenure and the interest rate applicable on the personal loan.
To use the personal loan EMI calculator, you can simply use the sliders you see on the screen. The slider will help provide basic details like the loan amount, tenure, and the interest rate to estimate the monthly installment. You can make changes in the loan amount as per your convenience until you reach the optimal personal loan EMI you can manage to pay.
Once you check the eligibility criteria of a personal loan, you need to calculate personal loan EMI and then make a borrowing decision. The calculator provides an accurate estimate based on the loan amount and tenure. It will help identify the amount you need and the EMI you will have to pay for the repayment. You will be able to make a well thought out borrowing decision.
Whether you are planning your wedding, funding your dream destination, or renovating your home, Finserv MARKETS is here to help you with all of it. You can get an instant personal loan today and enjoy all the benefits it has to offer.