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Posted by CSCA on August 17, 2024 at 2:23am 0 Comments 0 Likes
Loans are the ideal way of securing additional funds and come handy during emergencies. Be it a wedding, purchasing a house, there is a loan for every requirement. However, every loan needs to be repaid timely, and this could get challenging if you do not calculate the EMIs and have a financial plan in place.
An EMI calculator is there for this exact purpose. While the interest rates could be a tough cookie to crack, calculating the overall interest and the payable amount helps decide the principal amount for the loan.
The loan calculator helps determine how much you need to repay to the lender – a bank or financial institute. These instruments are super useful and here is how –
Using the EMI calculator helps determine the EMI, which keeps you ahead of the debt and makes sure the overall finances are well-planned and in place. Do not worry about paying the debts and being on-time with payments when you have pre-planned the investments and calculated EMIs. Loans might be taken in need of the hour or during a crisis, but an effective plan helps you come out of a problem quickly.
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