It’s quite crucial to plan your loans, income & repayments without much delay. A personal loan EMI calculator to find out your monthly EMIs & residual income.
Home Credit online loan EMI calculator makes it convenient to get your EMIs calculated at your fingertips, sitting inside your comfort zone.
Whenever you opt for an instant loan, the EMIs & tenure play a key role to decide the ticket size & loan period. A calculator helps you decide monthly payments to plan & manage your income for better financial management. .
How to use an EMI calculator?
To calculate your EMI, enter your loan amount, rate of interest and loan tenure, and the EMI immediately shows up. You can enter an amount that’s suitable to you between Rs. 25,000 to Ra. 2,00,000 for a period term from 6 months to 48 months.
You can easily adjust the sliders to change the EMI that fits your pocket easily. The EMI calculator is a powerful tool to keep yourself informed and ready for what’s coming towards you, financially. If you think to lower your EMIs, you will automatically have to change the tenure, interest rate or EMI amount or vice-versa. On the contrary, if you can afford higher monthly EMIs, then you can choose to increase your loan amount & tenure. This graph depicts how much you can repay over a certain loan tenure along with the interest component.
Our EMI calculator is exactly what you call user-friendly & intuitive.
Use the online Home Credit Loan calculator to enter the amount you require, the interest rate & the tenure to quickly arrive at the EMI amount & then decide the further course of action.
What factors really affect your personal loan EMI?
The below mentioned factors impact your personal loan EMIs, let’s have a quick glance:
- Loan Amount – Every month EMI is linearly proportional to the chosen loan amount. Higher the loan amount availed, higher are the monthly EMIs.
- Applicable Rate of Interest– Interest rate is usually charged by the lenders on the loan amount. Typically, a higher rate of interest increases the EMIs, vice versa.
- Tenure– It is the period of repayment period opted by the borrower and is inversely related to EMIs. A longer tenure reduces your monthly instalments while a shorter tenure tops it.
How to calculate personal loan EMI?
When applying for a personal loan, it is essential to have your EMI calculated beforehand. It can tell you about your financial commitments even before your loan application. You can use the Personal Loan EMI Calculator to find out the same. You can easily select the loan amount, tenure and rate of interest to understand the net payable EMI.
What are the advantages of a Personal Loan EMI Calculator?
Home Credit Loan EMI calculator provides the following advantages:
- Quick EMI calculation
- Minimized chances of omission or error
- Helps in easy evaluation of a suitable repayment schedule on an EMI calculator
- Helps in choosing a convenient repayment amount which doesn’t affect a borrower’s financial health in anyway.