The Importance of EMI Calculator In Getting a Personal Loan

What Happens If Your Personal Loan EMI Bounces?

Long gone are the days when people used to call up their relatives or friends to avail some financial assistance. Nowadays, as smartphones have become human’s round-the-clock companions, they totally rely on them for almost everything. Financial assistance is just a few taps away for you.

We at Stashfin ensure that all our potential customers don’t face any hassle while availing of the instant loan facility. Moreover, we are the only one in the industry offering personal loans without charging any interest upon it. To know more about this category, let’s dive deep into the details. 

What are personal loans?

As the term suggests, it is a type of unsecured loan offered by financial institutions (credit unions, fintech applications, banks, etc) to potential individuals for various personal purposes. The borrowers here receive a lump sum amount, which they are bound to repay over a fixed period, along with the interest rate. 

This loan can be used for a wide range of expenses, including consolidating ongoing debt, funding home refurbishments, covering unexpected medical bills, etc. Moreover, they don’t require any kind of collateral, but the eligibility depends on factors like credit score, income, and credit history. 

What is an EMI calculator?

There is no rocket science involved in understanding what such a calculator is all about. It is basically a simple financial tool that helps individuals estimate their monthly loan repayments accurately. It is used majorly for personal loans, car loans or home loans. 

You can easily use this tool from our website, and you just have to input key details such as the principal amount, interest rate, and loan tenure. The tool then computes the monthly installment amount, which includes both principal and interest components. 

What is the importance of the EMI Calculator in getting a personal loan?

  • Accurate and Apt Planning

These tools offer precise estimates of monthly loan repayments based on various loan parameters, allowing borrowers to plan their budgets in a much more efficient and effective way. 

  • Transparency

One thing we always make sure of is transparency. Such a tool always offers complete transparency about the borrowing cost. This is simply because the borrowers can easily witness the exact breakdown of principal and interest payments for each installment. 

  • Avoid Financial Stress

Using this tool helps borrowers choose a loan with EMIs that fit comfortably within their financial capabilities. This reduces the risk of defaulting on loan repayments and experiencing unnecessary financial stress. 

  • Instant Decision-Making

With this tool, potential borrowers who are planning to avail of the loan facility can quickly assess the financial implications of a personal loan

  • Helps you maintain a healthy credit score

When you have updated knowledge of your monthly outgo, it will always help you maintain a good credit score. Therefore, if you know the EMIs payable before you borrow the amount, you can plan accordingly. 

Why Stashfin?

We at Stashfin offer personal loans for individuals who are looking for immediate financial assistance. Moreover, we are the ones who are leading in this sector by offering zero percent interest on our loans. 

One can easily visit our website and download the application via the Play Store/App Store to initiate further. Say goodbye to the long and tiring trips to financial institutions when you join hands with us. So, what are you waiting for?

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