Personal Loan Calculator

Here is a simple guide on how to use Personal Loan Calculator:

1. Enter the loan amount you want to borrow (principal amount).
2. Input the interest rate offered by the lender (usually annual rate).
3. Select the loan tenure or repayment period (in months or years).
4. Click the “Calculate” button.
5. The calculator will display the monthly EMI (Equated Monthly Instalment), total interest payable, and total repayment amount.

Tips for effective use:

• Try different loan amounts, interest rates, and tenures to see their impact on EMI.
• Use the calculator to compare offers from different lenders.
• Some calculators allow planning for prepayments to see how they reduce interest.
• Use the EMI results to ensure monthly payments fit comfortably within your budget.

This helps in planning loan repayment, comparing options, and avoiding financial strain while borrowing.

More Calculators: Click Here