Calculate EMI on Personal Loan Using Personal Loan EMI Calculator Calculate EMI on Personal Loan using personal loan | Page 2

Why use an EMI calculator?
Precision and speed are the biggest advantages to use loan EMI calculators. Here are the benefits of
using a Personal Loan EMI calculator tool.
● Accuracy
Calculating EMI on a loan spread over a number of years involves multiple calculations. This can
increase the risk of errors. When using an EMI calculator, you get accurate result within seconds.
● Easy comparison
Personal loan interest rates are high and you want to choose a lender who offers the best terms.
Manual calculation is not only cumbersome, but also prone to errors. This can lead you to choose a
lender who doesn’t suit your particular financial needs. Accurate results help you compare lenders
and see who is best for you.
● Fits loans to budget
The EMI you have to pay affects your monthly budget. That also has to be adjusted. An EMI
calculator helps to crystallise the outflow so that you can budget your expenses.
● Offers innumerable permutations and combinations
Loan terms can vary across lenders. If you need to adjust the loan tenure or choose to prepay, all
these can be accomplished instantly using the calculator. If the EMI is cutting into your wallet, you
can choose a loan tenure which has an affordable EMI.