A personal loan is a serious commitment you must meet by the agreed repayment tenure. Thus, you must thoroughly research the personal loan terms and conditions, offered personal loan interest rates, processing charges, loan proceeds, etc., before selecting the personal loan application option.

Gone are those days when you were required to visit the lender physically for a face-to-face discussion with the bank representative about the loan before filling out the application. Technological development has made it possible to compute the serviceable personal loan EMI, repayment tenure, and suitable rate in seconds. So, by using an online personal loan EMI calculator, you can accurately compute your suitable loan figures without stressing much on the manual calculation to determine the figures.

Continue reading to know why you must use an online personal loan calculator for planning out your loan repayments –

  • Quick outcomes

Online personal loan calculator calculates the results accurately and quickly, which saves effort and time. So, this instrument is prudent for calculating your EMI instantly without needing tedious manual calculations.

  • User-friendly

An online personal loan EMI calculator is easy to use. It means even if you are unskilled at mathematics and calculations, you can still use the calculator to compute a reliable and accurate result.

  • Easy access

Accessing an online personal loan EMI calculator anytime from any location is simple. This is because, to use this calculator, you just need to have two things i.e., an electronic device, a smartphone or laptop and a good internet connection.

  • Saves plenty of time

You can save a lot of time using an online personal loan calculator. The online calculator permits you to conduct lengthy, multiple, and complicated calculations in just seconds to make a better decision. Moreover, with an online calculator, you can choose the apt repayment tenure according to your repayment potential, preference, and cash inflow.

  • Financial planning

Knowing your personal loan EMI and overall interest outflow beforehand permits you to plan your finances diligently. Here’s where an online personal loan calculator plays a key role. Using the calculator, you can calculate your preferred personal loan EMI according to your repayment capacity and negotiate with the financial institution for the same loan deal. Availing of the loan deal of your preference assists in reducing your financial burden and stress.


An online personal loan EMI calculator is a prudent instrument you must use once you select a lender. To use the calculator, you need to input three crucial details, namely – loan proceeds, offered rate of interest, and suitable repayment loan tenure. After adding all three details, your EMI and thorough interest constituent on a personal loan will be computed instantly. According to your repayment potential, you can make relevant changes to any of the details entered to calculate the preferred figures. Once done, you can negotiate to avail the same deal with the selected lender.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. 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 the Bank. The Bank, 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. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.