Comparing loan offers: Using an online personal loan EMI calculator, you can compare the loans and interest rates offered by different banks to understand which one suits your needs.

Conversely, smaller the EMI, longer the loan tenure. The amount of EMI can be easily computed by using a personal loan calculator which calls for three essential inputs.

Here’s why using personal loan EMI calculator is essential before taking out a loan: 1.Comparing loan options Lenders provide different terms, interest rates, and EMI structures.