Personal Loans are basically Unsecured Loans that means interest rate is usually high in Personal Loans. So taking a personal loan is quite easy but you have to manage it. Because you have to pay all your finances along with the EMI.
So for better Finance management it is must to calculate your EMI. You can calculate your EMI using this formula
EMI = P x r x (1 + r)n/((1 + r)n - 1)
Where
P = Loan amount,
R= Interest Rate,
N =Tenure in Number of Months.
Or you can use the Personal Loan EMI calculator to simplify the process. |