The News GodThe News GodThe News God
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
      • Biography
      • Net Worth
      • Famous Birthdays
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Reading: How can a loan calculator help in getting an instant personal loan?
Share
Font ResizerAa
The News GodThe News God
Font ResizerAa
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
Search
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Follow US
  • About Us
  • Authors
  • Advertise
  • Contact Us
  • Disclaimer
  • My Bookmarks
  • Terms of Use & Privacy Policy
  • Media Partners
The News God > Blog > Business & Finance > How can a loan calculator help in getting an instant personal loan?
Business & Finance

How can a loan calculator help in getting an instant personal loan?

Rose Tillerson Bankson
Last updated: August 31, 2022 8:52 am
Rose Tillerson Bankson - Editor
July 25, 2022
Share
4 Min Read
Obtain Hard Money Loans Even With Bad Credit
Businessman with money
SHARE

A loan calculator helps you plan your loan repayment by calculating your EMI in advance. A loan calculator also enables you to analyse whether you can afford a loan. Hence, borrowers are often advised to consult a loan calculator before applying for home loans, car loans, personal loans, education loans, etc.

Contents
How does a loan calculator work?How to use a loan calculator?What are the types of loan calculators?How does a personal loan calculator help?How to apply for an instant personal loan?

How does a loan calculator work?

A loan calculator calculates the monthly EMI of your loan in advance. It is important to note that a loan calculator does not provide a rough estimate of your future EMIs but calculates it precisely based on the inputs provided by you.

How to use a loan calculator?

Most loan calculators can be found online and are free of cost. Many banks and financial institutions have created loan calculators, which anyone can use before applying for a loan. A loan calculator requires you to enter some details to develop an accurate figure for your future EMIs.

While these details change based on the type of loan, some common details that one needs to provide to a loan calculator are interest rate, loan period, and loan amount. IDFC FIRST Bank’s personal loan EMI calculator also allows you to use sliders to enter these details.

Related Posts

The Ultimate Guide to Buying Ride On Toys Online
The Ultimate Guide to Buying Ride On Toys Online
A Guide To Sweet Shops In Ireland
A New Era of Fairness and Transparency in Content Distribution
Customised Flatbed Trailer for Sale – China

What are the types of loan calculators?

Loan calculators can be found for every type of loan. It includes home loan calculators, car loan calculators, two-wheeler loan calculators, education loan calculators, and personal loan calculators. Check out IDFC FIRST Bank’s list of financial calculators to calculate your EMIs more accurately.

How does a personal loan calculator help?

A personal loan calculator helps you calculate the EMI for your future personal loan. Here are the benefits of using a personal loan calculator before applying for a personal loan:

  • Prior knowledge of EMI: A personal loan EMI calculator can help you estimate the amount you need to repay the loan every month.
  • Helps you manage your finances: Once you have the details of your loan repayment cycle in advance, you can easily plan your other monthly expenses.
  • Choose your preferred loan tenure: Knowing the principal amount and rate of interest can help you select the loan tenure that suits you the best.
  • Accuracy: IDFC FIRST Bank’s personal loan EMI calculator is error-free and offers accurate results within seconds.

How to apply for an instant personal loan?

To be eligible for an instant personal loan, a borrower must meet the following eligibility criteria:

  1. If the borrower is a self-employed individual:
  2. Minimum age: 25 years
  3. Maximum age: 65 years at the time of loan maturity
  4. The business must have been in existence for a minimum of 3 years.

    If the borrower is a salaried individual:
  5. Minimum age: 23 years
  6. Maximum age: 60 years at the time of loan maturity or retirement, whichever comes first.
  7. The minimum monthly salary must be ₹ 20,000 per month.

Therefore, it is imperative to use a loan calculator before applying for a loan. Knowing whether you can afford the loan can prove beneficial and help you better plan your finances.

Maximizing your crypto investment: Here’s what you should keep in mind
How to Design a Sustainable Hybrid Office Space
Simple Tips to Get Through College without Going Broke
Best Accounting Software for Small Businesses in 2023
Ultima Banq: Launch Your Own Bank In Five Days
Share This Article
Facebook Email Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Paint by numbers - become a hobby artist now Paint by numbers – become a hobby artist now
Next Article Police: Houston man robbed at gunpoint while selling vehicle on Facebook Marketplace.
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Publications

Two women robbers dress as 'Roman' sisters to rob a bank
Two women robbers dress as ‘Roman’ sisters to rob a bank
News
May 30, 2025
7 Common Mistakes to Avoid When Beginning a Career in Education
Education
May 30, 2025
Home education
Why Continuing Education Matters More Than Ever in Healthcare
Education
May 29, 2025
26-year-old boy beaten up by 2 wives for trying to marry 3rd wife
26-year-old man beaten up by 2 wives for trying to marry 3rd wife
News
May 28, 2025
World’s longest-serving death row prisoner receives $1.4 million in compensation
World’s longest-serving death row prisoner receives $1.4 million in compensation
News
May 28, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe

You Might also Like

Microsoft Corp. is exploring an acquisition of TikTok’s operations in the U.S., according to a person familiar with the matter.
Business & Finance

The Power of TikTok Followers Providers: Igniting Your TikTok Journey

October 29, 2023
Business & Finance

How Is Ad Spend Calculated?

June 26, 2021
4 Reasons Why You Should Opt for Internships Abroad
Business & Finance

4 Reasons Why You Should Opt for Internships Abroad

January 14, 2024
A Comprehensive Guide to Types of Co-Ownership in Real Estate
Business & Finance

A Comprehensive Guide to Types of Co-Ownership in Real Estate

May 3, 2025
Show More
© 2025 Thenewsgod. All Rights Reserved.
  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Disclaimer
  • Authors
  • Media Partners
  • Videos
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?