Does an EMI Calculator Help in Planning Personal Loan Repayment?

Do you need urgent funds to sponsor a sibling’s education? Do you need instant cash to foot the medical bill after your father/mother gets discharged from the hospital? Did your medical insurance max out and you need extra cash to clear the bill? Or do you want to surprise your mother with gold bangles she has her eyes set on for her birthday? Amidst the celebrations and hopes, there is a tense moment when you need to arrange a personal loan and wonder how to manage the EMIs.

What is EMI and How does One Calculate It?

Being a renowned term, many people are still unaware of the significance and the meaning of EMI. Equated Monthly Instalment (EMI) is a term which each individual gets associated to when he/she plans to take a loan or issue a credit card. Although, the word might sound a little one but has a broader aspect when it comes to practical life. However, if not known right, the term can turn into a nightmare.