Tag Archives: personal loan emi calculator

In the current digital era, many individuals turn towards a personal loan when they need extra financial funds for various kinds of reasons. However, it is essential to remember that if you are availing of this facility, you need to meet your Equated Monthly Installments (EMIs) regularly.  But what happens if your loan EMI bounces? Today, we’ll delve into the consequences of missing your EMI payments and explore the steps you can take to mitigate the overall impact. To understand all of this, we first need to understand every single factor related to it. What are personal loans? As the term implies, it is basically the money you borrow from us with a set repayment tenure and consistent monthly payments. This loan type is entirely unsecured, meaning you don’t have to risk any of your valuable assets, like a car or a house.  We at Stashfin are the only ones in industry offering such loans at a zero percent interest rate. But keep in mind that it is only for the first month!  What are personal loan emis? Before we move towards the consequences of bouncing a loan EMI, we first need to understand what EMIs are and how they work.  When you avail of this loan facility, the lender offers you a specific amount of money you must repay over a fixed term. This repayment is divided into smaller, equal monthly payments, commonly referred to as EMIs. Each of these EMIs comprises two components: the principal amount and the interest. The principal amount is the portion of the amount you borrowed, while the interest is the cost you incur for borrowing.  What Happens If Your Loan EMI Bounces? Creditworthiness When you miss an EMI payment of your personal loan, it is counted as a significant red flag in one’s credit history. It is marked in your credit report and gets amplified as it lowers one’s credit score. Higher Rate of Interest The rate of your potential borrowing is determined by your report, which had already deteriorated due to your regular EMI skips. So, even with a good income and a lower debt-to-income ratio in this situation, you’ll be denied a loan in the future.  Delayed Payment Interest Charge If you, as a borrower, fail to deposit the EMI on schedule, it tends to delay the payment. In such cases, the lender might add the interest due as part of the overall liability.  How to avoid missing a loan EMI? Form a budget Establish a monthly budget that outlines all your expenses and income as well. This helps in getting a clear picture of your financial situation and ensures that you allocate funds for your loan EMI.  Use reminder tools  You can easily set calendar reminders to alert you about upcoming EMI due dates. This is quite helpful if you prefer not to automate payments.  Personal loan EMI calculator Using a Personal loan EMI calculator tool before availing a loan is one of the smartest decisions by potential borrowers. It gives you a clear idea of how much you will be borrowing and what you have to pay back in how much time.  Avoid Over-Borrowing When taking out this loan, only borrow what you truly need and can comfortably pay back. Avoid over-borrowing, as it might lead to difficulties meeting your financial obligations.  Why Stashfin? We at Stashfin only have one thing in mind: all our potential borrowers face no hassle while availing financial help from our platform. Nobody can question the fact such a loan has emerged as one of the top tools for financial help in tough times.  If you are looking for such a facility, download our application from the Play Store/App Store and attain financial freedom. 

Over the past few years, there has been a remarkable rise in the popularity of personal loan apps in India. These apps present a convenient and efficient solution for individuals seeking quick access to funds, eliminating the need for much paperwork and long waiting periods associated with traditional lenders. With these innovative apps, individuals can secure funds quickly and effortlessly, empowering them to meet their financial needs promptly. What is a personal loan? It is a type of unsecured loan that potential individuals can borrow from banks, financial institutions, credit unions, or online lenders in order to fulfill their personal financial needs.  Unlike loans that are taken for a particular purpose, such as a home loan or automobile loan, these loans can be used for a variety of reasons, including medical expenses, debt consolidation, home improvements, education expenses, or any other personal financial requirement. What are the key features of personal loans? 1. Flexible Amount of Loan They provide borrowers with a specific loan amount upfront, which is to be repaid in fixed installments over a fixed/predetermined term. 2. Flexibility in use A Personal loan provides unmatched flexibility in facilitating you to do what you wish. Want to get married? Sure. Do you want to repair your home? Sure. There are almost limitless ways you can use a loan. 3. Fixed Rate of Interest These loan types generally have a fixed interest rate throughout the loan tenure. This allows borrowers to plan their repayment schedule and budget in a much more efficient manner. 4. Flexible Repayment Terms The repayment terms here typically range from a few months to several years, depending on the lender and the loan amount. Which are the best loan apps in India?  While searching for trustworthy mobile applications for loans, you can trust Stashfin. It is a leading instant personal loan app in India as it’ll offer instinct access with a limit of up to Rs 10,00,000/- at 0% for a period of 30 days. Isn’t that great?  How can you apply for a small personal loan online? Download this small loan app from the Play Store/App Store Sign up using your mobile number Add your personal details to check your credit limit Complete KYC and you are good to go for an instant personal loan online! Conclusion The lending landscape in India has been revolutionized by such an application, allowing individuals quick and convenient financing solutions. These apps provide seamless user experiences, quick loan disbursals, and attractive interest rates and can be calculated by a personal loan emi calculator.  Although this has made it easier for borrowers to get the money they desire to do what they want, responsible borrowing is crucial. 

When considering financial decisions that can impact one's life long-term, one must always plan properly to make informed decisions. Knowing terms, interest rates, estimated payouts, and charges help you understand what you are getting into and make the best of it. Not planning properly can lead to a situation where you cannot make the payments and are stuck between a rock and a hard place. Getting into debt might not be on the wishlist of many but life happens, and sometimes there is no other choice, but that should not stop you from making a choice that ultimately benefits you. Let us explore a personal loan, how to get one, and how to use an EMI calculator to make informed financial decisions. What is a Personal Loan? A personal loan is a type of loan typically not secured by collateral. It is favored over specialised loans such as home loans because of its wide range of applications and nearly limitless end-use cases. A personal loan, like any other type, requires an individual to repay the loan amount and the interest over the predetermined tenure. Which is the best application for a loan? A few months ago, I needed to get some funds urgently and decided to get a loan. After much research and asking several friends, I was recommended an app called Stashfin. I went through it thoroughly, and I was pleasantly impressed. It was not only easy to use but also highly convenient and quick. It helped me cover that urgent expense and make sense of my mess. How to get a loan? It was effortless to get a loan from Stashfin, and it was not only convenient as I could do all of this from my home, it didn’t need any physical documentation, and I got the money disbursed within hours. These are the steps I followed to get my loan: I downloaded the application. After which, I signed up using my mobile number. I filled in my details to check my credit limit. I completed the KYC and got my loan approved quickly. And within a few hours, I could get the money in my account and fund that expense. How to use a loan calculator? Using readily available tools, like a calculator personal loan, is extremely valuable when making financial decisions. All you need to do is visit the Stashfin Website and click the EMI Calculator tab. You can input the Principal amount you need, choose the repayment tenure, and add the interest rate offered there. Once you do this, you will be showcased the monthly EMI you need to pay, the total amount payable, the interest payable, and the effective interest rate. These will help you make an informed decision and plan your finances properly. For example, I needed a loan for Rs 3 Lakhs and was offered an interest rate of 12%. I make around Rs 50,000 every month and wanted the EMI to stay within 40% of my monthly income. I used the tenure slider to increase the repayment tenure and figured out that 18 months would be my best option. It meant I had to pay around 36% of my salary, which fit my expenses and needs allowing me to take this loan and pay my dues fearlessly. Conclusion Thus, the best option is to use a personal loan EMI calculator to simulate different scenarios and see what fits you and your financial ability best. It gives people the knowledge and ability to do these calculations quickly and accurately without doing so manually. These tools are readily available and possible for anyone and everyone to access so that you can make the right decision, compare between different lenders, estimate the monthly payments and interest rates, and get the best deal for your needs.

For those who are in need of emergency funds, personal loans are one of the best options to avail. However, before availing it, using an EMI calculator has become quite an important tool to get a fair idea of what you’ll be reaping out of your investment.  Nowadays, in the current era of digitalisation, availing such a loan is super easy and convenient. One just has to download the right application, like Stashfin, or visit our website, and you are more than good to go!   What is a personal loan? As the term suggests, it is a type of unsecured loan that can help you meet your current personal financial needs. This loan type does not require you to pledge any security or collateral and is available with just basic documentation. The amount availed by the potential borrower from this loan type can be used to fulfil expenses, such as home improvements, marriage expenses, medical emergencies etc.  Unlike certain types of loans, like a house or car loan that are used only for one purpose, a personal loan with EMI is flexible and can be used for a variety of purposes, as mentioned above. Moreover, they don’t require any collateral, such as a car or house, to be pledged as security in order to secure the loan. Instead, the lenders rely totally on the borrower’s creditworthiness and ability to repay the loan amount.  What is a Personal Loan EMI Calculator? One of the most essential tools in the current times before availing a personal loan is this calculator. It helps the potential borrowers calculate their Equated Monthly Installments (EMIs) on a personal loan.  To use this helpful tool, the borrower needs to enter certain inputs such as the amount of the loan, rate of interest and tenure. Once these mandatory details are entered, the calculator displays the EMI amount that the borrower will have to pay each month towards the loan repayment.  The calculation of the EMI takes into account both the principal loan amount and the interest charged on it and is spread out over the loan tenure.  How does a personal loan EMI calculator work? This tool is relatively easy to use, and people of any age group can easily use it without hesitation. Here is a step-by-step guide on how this tool works:  Amount of loan  The first and foremost step is to enter the amount of loan you wish to borrow from the lender.  Duration Secondly, enter the tenure, i.e., the duration for which you want to borrow the loan. This is usually in months.  Rate of interest The third step is to enter the rate of interest charged by the lender on the amount.  Further, based on these factors, the EMI calculator calculates the monthly instalment amount you’ll have to repay the loan. The calculation is done using a mathematical formula that takes into consideration the loan amount, duration and interest rate.  Conclusion The first and foremost focus of Stashfin is to offer feasibility to its users. With just a few taps/clicks, you can easily calculate everything at your fingertips and further avail a personal loan without any hassle.