Top 5 Benefits of Personal Loan EMI Calculator

Let’s touch upon the top 5 benefits of the personal loan EMI calculator

 

1. Ease of Use

   Being an in-built tool within the loan app, it is quite user-friendly. Borrowers just need to add their principal amount and tenure and select the prevalent interest rate. Within seconds, the EMI calculator displays the result.
    

2. Flexible Tool

   The EMI calculator is high on flexibility as the three variables entered can be flexibly edited till the time borrowers are not satisfied with the EMI amount. This benefits the per month budget setting goals, helping with setting an affordable EMI.
    

3. 100% Accuracy

   As the EMI is calculated in real-time on a digital personal loan app, there is no scope for inaccuracy. Hence, borrowers can be 100% sure about the accuracy rate while using an EMI calculator on a personal loan app.
    

4. Saves Time

   Manual EMI calculation is a tedious and time-consuming process that can often lead to inaccuracy. Hence, when the financial need is urgent, it is best to consider an EMI calculator to save on extra time spent on calculating EMIs.
    

5. Speeds up the Loan Process

   Once the EMI is decided within the budget and seems affordable to the borrower, the next step is going ahead with the personal loan application at a faster pace. Faster calculation of installments with accuracy speeds up the personal loan process online.
    

Hence, the new age instant cash loan apps bring a host of benefits for the borrowers. EMI calculator is indeed a useful feature within the personal loan app that gives confidence to the borrowers to go ahead with a personal loan, calculating affordable EMIs in advance.

Hero FinCorp is a popular personal loan app featuring a user-friendly EMI calculator. This can be used when applying for a personal loan of between Rs.50,000 and 1.5 lakh. Timely repayment of EMIs can build a strong financial record and a great CIBIL score. Having a high CIBIL score can help you raise funds in the future with ease.

The Hero FinCorp Personal Loan EMI calculator is a handy tool for borrowers seeking an instant personal loan. It would help a borrower accurately estimate their monthly loan installments (EMI) well in advance. A borrower would thus be able to ascertain an amount towards EMI from their monthly income and ensure regular EMI repayments to avoid penalty charges.