Personal Loan EMI Calculator

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Personal Loan EMI Calculator
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What is an EMI Calculator?

• A personal loan EMI calculator presents a
  detailed chart from where a borrower can plan out
  all his expenses related to a personal loan. But,
  he needs to provide certain basic information
  related to the personal loan to it, before the
  calculator calculates the details desired.

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How is the personal loan emi calculated?

• E P r (1r)n/((1r)n 1),
• Where, E is the amount to be paid at a fixed date
  of every month the EMI.
• P is the sum that is borrowed
• r is the interest rate applicable, which is
  calculated on a monthly basis rather than the
  annual interest rate. This can be attained by
  applying the formula r (annual interest/12)
  100.
• n stands for the tenure of the loan in months,
  Such as 60 months for 5 years.

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How to decide on the right EMI amount for
yourself?

1. Assess your current financial obligations
2. Decide the loan amount to borrow
3. Check your personal loan eligibility beforehand
4. Multiplier method
5. FOIR or Fixed Obligation to Income Ratio method

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Benefits of the Afinoz Personal Loan EMI
Calculator

1. You can access it 247
2. Get accurate results
3. Allows you to plan your finances better
4. Saves time for you

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Thank You !!!