Each of us earns money and uses it to accomplish our goals and dreams. Unfortunately, there are times when we are short of money unexpectedly or expectedly but the list of expenses keeps on growing over time. One way to easily cover these expenses is to take a personal loan, which you can easily plan using a personal loan EMI calculator.
A personal loan is a smart decision to meet your immediate monetary needs, seamlessly. In a personal loan, you don’t have to pledge any security. Also, the procedure and criteria to meet the eligibility are very simple. So if you need quick money, consider getting a personal loan. But do make sure to use a personal loan EMI calculator available online. This way you will end up making an organised decision with your regular funds and other necessities.
It will help you to complete your monthly instalments as per the loan tenor and loan amount. A slight change in the interest rate and tenor greatly affects the money required to be paid as EMIs. But, a personal loan calculator available online can help you to compare loans from different lenders and choose the one which suits you the best.
Carry on with your reading task to see how you can plan out your regular expenses using a personal loan EMI calculator available online.
Book a perfect vacation with your family
Family vacations are the times when you make so many beautiful memories with your loved ones. Taking a personal loan for a family vacation is a good idea as you get to spend quality time with your spouse, parents and children. For this purpose, you can take a personal loan for as much as Rs. 25 Lakhs. This will allow you to plan unforgettable vacations, whether you want to get out on the tropical beaches, incredible locations in the mountains, destinations frequently visited by tourists or some other off the beat places. Another benefit of taking a personal loan for a family vacation is that you don’t have to worry about losing on the savings. The loan sanctioned will be enough to cover all of your travel-related expenses easily.
Renovate your house and give it a brand new look
We all know building a house is a difficult task but keeping it maintained is also not so easy. Over time, the material used in its building process starts to degrade. The paint starts to tear off, it requires installation of lights, wiring or bathroom facilities. You can cover all these expenses with the help of a personal loan EMI calculator. Moreover, the qualifications required for getting a personal loan for the house renovation is also very simple. You just have to meet the following criteria:
- You must be an Indian citizen.
- Work in a public or private company or an MNC.
- Your age should be between 21 to 67 years.
- Your CIBIL score should be at least 750.
- You must also fulfil the income requirements specified by the city you are living in.
Organise a grand wedding
Weddings are like a festival in India that goes on for multiple days. This requires a great amount of money to have your dream wedding. But a personal loan can help for covering wedding expenses at the right time. Use a personal loan calculator and check out at what amount of loan you can get to have the wedding you want. More importantly, in the case of a wedding, you can get same-day disbursal from top-tier lenders. This makes it a smart choice if you are facing a shortage of money at the last moment. After receiving money, you can hire your desired vendors, pay for services in advance where it is required and also handle other issues easily.
Clear your debt with a lower interest
You can also take a personal loan to clear out your debt. Certain lenders offer a competitive personal loan interest rate and give you the choice of choosing a tenor of up to 5 years. So if you are under a high-interest debt, open a personal loan calculator and find out if taking a personal loan for a low-interest rate is a good choice or not. You can choose the terms that work the best and manage repayment without any stress.
Consolidate your credit card debt
If you are under a substantial debt of one or more credit cards that keep getting bigger, because of higher interest rates, then taking out a personal loan to remove that debt could be a money-saving idea. With the credit card debt’s interest rate higher than the interest rate on a personal loan, the difference helps you to pay off the debt faster with much less stress on your wallet and your mind.
A personal loan EMI calculator not only helps users make organised financial plans but also, ensures a healthy credit rating and accurate results without wasting extra time and money. As the entire system is completely automated there are fewer chances for a user to end up getting stuck with inadequate results and end up making the wrong decisions.
