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Personal loan EMI calculator by Loan NCR
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Personal loan EMI calculator |
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Advice
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Personal loans due to their very nature have become a more common means to fund any immediate financial need. EMI or equated monthly installments are an important part of any loan. This is the amount one has to repay the bank on or before a specified date every month. Being regular in EMI repayment makes a borrower credit worthy and on the contrary missing any EMIs can invite penalty and stricter repayment conditions. The amount of loan taken, interest rate and tenure all go into determining the exact amount of EMI one has to pay for his personal loan. Knowing the precise amount of EMI helps a lot in formulating the budget and plan in advance. A great calculator like the Loanncr Personal Loan EMI Calculator makes this task very easy. This simple calculator requires minimum inputs and gives a detailed month by month account of the repayment schedule. Every EMI paid to the bank has two components in it, a part of the EMI is used to pay the interest while rest goes towards servicing the principal. Generally during the early part of repayment tenure most of the EMI is used to service interest. This calculator shows the EMI amount, the interest part of the EMI, the principal part of the EMI and the balance due after EMI payment. Some lenders take one EMI in advance, if this is the case with your personal loan, this Personal Loan EMI Calculator from loanncr has the option to specify this also. The procedure for calculating the EMI for your personal loan is very simple and is detailed in the following steps: Step 1: Go to the Personal Loan EMI Calculator page Step 2: Enter the loan amount Step 3: Enter the rate of interest charged on the loan Step 4: If your lender charges one EMI in advance tick the relevant checkbox. Calculate your EMI click here For more information regarding loan visit http://www.loanncr.com Cheap Seo Services and Latest Bollywood News
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