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NBF Connect: Best Bank for SME support in UAE

Open your SME account with NBF, the most reliable bank in the UAE and avail benefits from an ecosystem that enables business success.

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NBF Connect: Best Bank for SME support in UAE

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  1. 5 USES OF LOANCALCULATOR

  2. A loan calculator is a tool that helps you calculate the EMI's, monthly interest, monthlyreducing balance, loan tenor and rate of interest.  The factors affecting the personal loan EMI calculator are loan amount, interest, rateand loan tenor.  A loan calculator has major uses. Some of them are as follows: • Helps you plan: Applicants can accurately examine their monthlyexpenses. They can be prepared for the future when they can calculate their monthlyinstalments and expenses effectively and plan their savings accordingly.• Helps you find the lowest interest rates: In the UAE, the interest rates on loans areoffered in two variants, as flat-rate interests and as reducing balance interest. Apersonal loan interest calculator helps applicants to find the lowest interest rate in theUAE.

  3. •Helps in comparing loans optimally: You can effortlessly calculate and compare the interest rate invarious loans offered by different financial institutions or banks. It helps in finding accurate figures.•Helps to estimate EMI: The most vital step while applying for a loan is to calculate the EMI. Aloancalculatorhelps applicants to plan their finances more efficiently. The personal loan EMI calculator in theUAE provides an estimate of EMI that is needed to be paid after obtaining the loan. The borrower can easilycomprehend the loan amount they can apply for. 

  4. •Helps in the calculation of Top-up loan: The top-up facilityon a loan is offered to an existing active loan from the sameloan provider. Top up loans offer greater funding to thecustomer. This involves a new pack of calculations thatincludes new and preferential loan rates of interest andextended loan tenor. The complex calculation that comeswith a top-up facility can be cut short with the help of aloan calculator in the UAE. •Personalloan calculatorsare accurate and precise mostly.But there is a slight scope of error because of the reasonthat it takes the standard values into account excluding realvalues. Due to this disparity, loan seekers are recommendedto cross-check the figures from the institutional officerbefore proceeding with the final application. 

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