How EMI is calculated for personal loan?

2019 began with a lot of hike in expenses all throughout the country. Such a hike brings in a lot of tension for the common man. A middle class Mumbaikar would find it tough to do all of the above using their own funds as this will deplete their savings. Some might not even be able to afford it.

Is there any solution for such a problem?

Yes. With an instant personal loan, you can do all of the above and ensure your family can be happy and enjoy the last month of 2018 lavishly. Getting a personal loan is not at all tough as all you need is to submit your KYC which includes your personal details, address proof, banking statements, income statements and then the Bank will verify and provide you with the approval. You can get the loan amount in your account as soon as within 72 hours*.

Why should I not use my savings instead?

When you use up your savings, it makes you vulnerable to future expenses or emergencies where cash is required immediately. But with the amount from a personal loan, you can tend to all your planned and unplanned expenses. All you have to do is pay your fixed EMI which is a small amount that is very manageable. This allows you to enjoy life’s luxuries and also manage your day to day expenses.

What if the EMI amount is high?

Did you know that you can calculate and find out how much EMI you will have to pay on your loan amount? Yes, we at Ruloans understood this problem of customers and hence came out with the best solution i.e. “Personal Loan Calculator”.

What is a personal loan calculator?

On our website, you can find the personal loan calculator and find the best EMI as per your requirement. All you need to fill is three details. These are;

Personal Loan Amount

Interest Rate

Loan Tenure (in months)

When you fill these details, our EMI calculator will give you the EMI which you would have to pay each month until the tenure ends. There are 3 total amounts which you can understand after filling in your details;

EMI Amount per month

Total Interest Payable until loan tenure ends

Total amount paid by you (Loan amount + Interest amount)

With this, you can understand how much of money you will have to keep aside from your savings and expenses. You will also know how much interest amount you will be paying for the whole loan tenure. Through this, you can customize the loan term and reduce the interest burden on yourself.

Hence, EMI is calculated in a complex process but you don’t need to be confused always. With the EMI calculator, your life becomes easy and all you have to do is punch in few details and wait for the result. Check out your requirement by Clicking Here

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