How Is Your Personal Loan EMI Calculated: Understanding Your Loan Amortization Schedule
If you have been considering getting a instant personal loan for some time now, one question which must have definitely crossed your mind is how will my personal loan EMI be calculated? At first glance, answering this question might appear to be as simple as relying on the lender to extend you an EMI offer and you simply accepting it. However, the actual mechanics behind this calculation are a little different and equally important to understand. Thus, in today’s article, we will share with you the inside workings behind the calculation of your personal loan EMI and the subsequent loan amortization schedule, thus empowering you with the ability to do it yourself. Without further ado, let’s get started. How Is Your Personal Loan EMI Calculated? To understand the calculation of your urgent personal loan EMI calculation, one of the first and most important aspects we need to grasp are the various factors which affect it. While there can be a number of them, the most significant