11 APRIL, 2022

While you are struggling to determine your affordability for a home loan, wouldn’t it be easy to calculate your EMIs accurately in less than 5 minutes rather than relying on the lender's representative to tell you the amount after the entire application process is done?

Yes, calculating your Equated Monthly Installments (EMIs) accurately is now possible in a jiffy. This can help you not just budget your other calculations around it, but also give you a clear picture of how much loan is affordable for you. Here’s how.

 

Understanding the Personal Loan EMIs

A personal loan is an unsecured loan that helps you to give wings to your dreams, be it buying something for yourself or your loved ones or just spending on upgrading your lifestyle. A personal loan is often your much-needed financial support without the hassles of having collateral or questions attached. However, it is always important that you check the eligibility and affordability before you get a loan. This is where a personal loan calculator comes into the picture.

 

Personal Loan Calculator

A personal loan calculator is a simple and convenient option that allows you to know your EMIs accurately without using the formulas or doing any complex calculations. It is a computation tool available online that helps you find your EMI, and affordability with just a few variable figures. All you need to do is fill in the basic details in the PL EMI Calculator and get the results within a few minutes. The process to use the personal loan calculator is as follows:

 

  • Visit the Personal Loan EMI Calculator page
  • Enter the estimated loan amount that you wish to take
  • Enter the loan tenure that best suits your needs
  • Enter the expected interest rate

 

Once you enter the details, the PL EMI calculator will check your details and display the potential EMI you would have to pay for the loan. If you are not satisfied with the results, you can change the values to get suitable results.

 

Benefits Of Kotak Bank’s Personal Loan Calculator

  • A personal loan calculator can help you find your affordability for a personal loan, efficiently.
  • It is an error-free and accurate means of checking your EMI and total repayment value.
  • After using the calculator, you can decide the amount of loan you must avail to get a suitable EMI.
  • You can use the calculator anytime and any number of times to get the desired results.
  • You need not input any personal details in a personal loan calculator to get the results, and all the information you furnish is safe.
  • With a personal loan calculator, you can create a suitable budget and prioritize your expenses even before availing a personal loan.

 

Sure, you might know that a personal loan can help fund your various needs and get funds instantly. However, being able to calculate your EMIs in 5 min can help you plan your loan better and avoid defaults on repayment. Check the calculator and apply for personal loan today.

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Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.

Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.