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Everything You Need to Know About the EMI Calculator and Its Benefits - PowerPoint PPT Presentation

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  • Every individual has a different financial requirement and spending habits. No doubt, at a time, these individuals will opt for extra financial assistance in the form of loans to help assist in any financial requirement.

  • Whether it is a car loan, personal, loan or even a loan, as an applicant you will need to consider the basic features of it, namely how much will it cost you?

  • This cost is calculated in terms of monthly payments, known as EMI's.

  • EMI's are calculated on the amount that you have borrowed, along with the Housing Loan Interest you will need to pay on this borrowed amount.

  • additionally, it will also include the processing fee for the said loan. Using these details, you can calculate the ideal amount of EMI you can afford to pay.

  • The EMI as EMI's. EMI also known as the Equated Monthly Installments is the amount that you are expected to pay if you go in for a loan.

  • This amount would include the payment of the principal amount and the interest that is applicable to the loan. It is one of the most important features of the EMI calculator, as it provides the details of the affordability of the loan, and how you can afford it.

  • [Source: http://www.sooperarticles.com/finance-articles/everything-you-need-know-about-emi-calculator-its-benefits-1482617.html]

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