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How to Figure Out Your EMI using Personal Loan Calculator?

3 min read
Knowing your monthly Equated Monthly Instalments (EMIs) in advance comes in handy and is beneficial...

Knowing your monthly Equated Monthly Instalments (EMIs) in advance comes in handy and is beneficial for you. There are mostly 2 methods to calculate the EMI of the loan- to calculate it manually with a mathematical formula and the other one is to calculate it via EMI calculator. Today every lending institution provides the facility of EMI calculator on their respective sites. Let’s discuss in case of instant loan, personal loan EMI calculator is what you need for that. It helps you obtain a clear picture of your monthly budget and to plan your finances better.

When availing an instant personal loan, you get the facility of calculating the EMIs for your loan in a few moments with using such loan EMI calculators. The only requirement is to just enter the loan amount, repayment tenure, and interest rate of the loan and submit the values you will get the EMI amount you have to pay per month or per year in a few seconds. 


Always be truthful to your lender as you would with a doctor. While punching in the numbers in the EMI calculator, be careful and input the correct information to receive the most accurate outcome of your future finances. 

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  1. Always look around to get an idea of your loan, to find a suitable loan amount and affordable EMIs. Compare amongst several other options to find what you are comfortable with. 
  2. Seeing how much your pocket allows you to pay monthly and how early you want your loan to be paid off are points to be considered. Any difficulty in paying this amount can affect your credit score.
  3. You can even check the repayment schedule for your existing loans. If you are in a situation that allows you to pay off your loan faster then the personal loan EMI calculator will help you to figure out what the new tenure will be and provide you with a new budget to plan your finances accordingly.


Mostly the EMI calculator portal is easily available on the lending institution’s website. Let us take an example of the famous NBFC Fullerton India’s personal loan EMI calculator that comes in three tabs to calculate your EMI instantaneously. It is calculated based on the loan amount, repayment tenure, and interest rate. Now, the loan amount and repayment tenure are set according to your needs and ability to repay the respective amount. But the interest rate is set based on your eligibility.

  1. Choose the amount you need. For instance, you want a loan of Rs.2,50,000 and then slide the ‘Loan Amount’ to the respective amount.
  2. Next, select the tenure. For instance, select 24 months as ‘Loan Tenure’.
  3. Lastly, set the ‘Rate of Interest’. Slide it to 12.99% 

(The above mentioned is only an example. If you are not satisfied with your monthly EMI, you could always shift the slider and see the changes in seconds.) 

A tool such as an EMI calculator should be used to its fullest. It’s easy to use, gives out immediate results, and it is free. There is no room for manual calculation error here as you get the correct outcome when inputting the right information. personal loan EMI calculator is entirely at your service. And to make you understand better, it even includes processing fees and related taxes along with loan tenure, loan amount, and rate of interest to help you plan your application better. 

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