Need a loan? Don't just get into a rush to apply for one. Instead, make sure to analyze all your financial commitments. Once this is done, calculate the amount of money that you can spare per month. But, that is not all.

Before you zero in on the amount that you need to apply a loan for, make sure to find out the EMI that you may have to pay for it every month.

How to Calculate the EMI?

• First select the kind of loan you are looking for. It can be a
• Housing loan
• Car loan
• Personal loan
• Credit card payments
• Enter the amount that you need
• Next select the interest rate that you are willing to go with. Remember that various financial organizations offer different interest rates for the same kind of loan
• Now, select the tenure of the loan. This has to be entered in the terms of months. So, if you are thinking of settling a personal loan within 5 years, enter the tenure as 60 months
• Once all the details are in place, click. The EMI amount will be calculated and displayed on the screen

Why Use the EMI Calculator?

• Easy and convenient way to make complex calculations
• No worries about errors as accuracy is guaranteed
• Wastage of time is a thing of the past. With this automatic calculator, you can get the result within a matter of a few seconds
• No need to remember complex formulae. This EMI calculator has all the different formulae in place
• Can be used for all kinds of loans what with the calculator being specially designed for EMIs.