Money9 Personal Loan calculator allows you to ascertain equated monthly instalment of your Personal Loan. This Personal Loan calculator will help you to figure your repayment and loan conveniently with just one click. With this, you can easily decide which Personal Loan is better for you by calculating your pay-outs as per different tenures. To determine the EMI, just enter the preferred Personal Loan amount, rate of interest and tenure. Personal Loans are provided on the basis of a few criteria such as income, employment history, credit history and capacity to repay the amount. Maximum Personal Loan tenure can be anywhere around 12-60 months. Being unsecured loans, they provide higher rate of interest. A high credit score often gets you higher loan amount. So, if you want to apply for a Personal Loan and have a doubt regarding equated monthly instalments, Money9 Personal Loan calculator is here to help you.
Personal Loans help an individual meet any kind of personal need. Unlike other loans, a Personal Loan is unsecured and therefore, the interest rates are higher than other banks. The general criteria to get a Personal Loan include your income, age, employment, repayment capacity, etc. To avail a Personal Loan, you must have regular income. The amount that you can borrow depends on on your income and employment status. As per your income, banks restrict the loan amount so that equated monthly instalments are not more than 40-50% of your monthly income. Your credit score, income, and liabilities are kept in consideration while sanctioning the loan. A high credit score gets you higher loan amount.