• Home
  • World
  • Lifestyle
  • Business
  • Entertainment
  • Sports
  • Login
Upgrade
Ventuneac
  • Contact Us
  • Home
  • Tech
    • Gadgets
    • How To
    • Cryptocurrency
    • Alternatives
    • Gaming
  • Real Estate
  • Finance
  • Business
    • Marketing
    • Startup
    • Market Research
  • Travel
  • Lifestyle
    • Health
    • Fashion
    • Food
    • Education
  • Entertainment
No Result
View All Result
  • Contact Us
  • Home
  • Tech
    • Gadgets
    • How To
    • Cryptocurrency
    • Alternatives
    • Gaming
  • Real Estate
  • Finance
  • Business
    • Marketing
    • Startup
    • Market Research
  • Travel
  • Lifestyle
    • Health
    • Fashion
    • Food
    • Education
  • Entertainment
No Result
View All Result
Ventuneac
No Result
View All Result
Home Business Finance

Smart Ways to Plan Your Personal Loan EMI Repayments

mindmingles by mindmingles
December 24, 2020
in Finance
0
Personal Loan EMI
0
SHARES
61
VIEWS
Share on FacebookShare on Twitter

Availing personal finance is a piece of cake today. Sure, you will need to make some effort when it comes to documentation and approvals, but it’s not that tedious a procedure. However, during all this, you must remember how to calculate personal loan EMI, through which you can efficiently manage the monthly instalments. 

Using the EMI facility is convenient, but can be preposterous if you cannot repay on time, every month. This goes to harm your credit score in the long run, reducing your chances of availing better loans and interest rates in the future. Hence, here are some fantastic ways for you to plan your personal loan EMI repayments efficiently:

You might also like

Partial withdrawal in ULIP: What you should know about it

Partial withdrawal in ULIP: What you should know about it

November 7, 2022
houses

The Types of Services offered by a Mortgage broker

July 25, 2022
pet

How Does Pet Insurance Work in Australia?

February 21, 2022
finance

5 Ways How Home Loan Refinancing Helps

March 11, 2022

Using EMI Calculators

Most online lenders today provide a personal loan EMI calculator, which is highly lucrative in helping you manage your loan repayments. All you have to do is enter the interest rate, loan or principal amount, and loan duration. Within a few seconds, you will see the monthly EMI and interest payable. 

This is highly advantageous as you will know the EMI beforehand, and hence, manage your finances around it to repay them seamlessly. Moreover, this will also help you find the appropriate loan tenure, allowing you to repay quickly without the burden of impending monthly deadlines for more extended periods. 

Consolidating or Refinancing Your Loan

Asking your lender to restructure the loan EMIs, tenures, or interest rates is a good solution when you’re struggling to repay the EMIs. However, you can also choose to consolidate other smaller loans into a big one. This will help you avail a lower interest rate, making it easier to repay the EMIs. 

You can also opt to refinance the personal loan from new lenders who are offering lower interests and friendlier terms. To do this, you will have to transfer the loan to that lender, and with the better repayment terms, managing EMIs will become easier. 

Carefully Choosing Your Tenor

Your tenor will have a massive impact on your loan’s affordability. Hence, you must review the different factors such as your monthly expenditure and income, before choosing a tenor. This will help you determine the amount of your income that will be available to pay the EMIs on time. 

Keeping Aside a Dedicated Cash Reserve

One of the best ways of managing your EMI repayments is maintaining a dedicated account, even before you apply for the loan. This will help you establish a bulk of funds to assist you when you start paying the EMIs. 

You can choose to put these funds in a savings account or start an FD account with them. That way, you can either use the savings to timely repay the EMIs or use the non-cumulative FD’s pay-outs to do so. 

Choosing the Right Lender

Ultimately, a significant factor for you quickly paying EMIs, is collaborating with the right lender, who offers affordable terms and interests. This will help your comfortably plan and repay the instalments since the terms match your capabilities. 

Work Smarter, Not Harder!

Now that you know these tactics, there’s no reason not to avail a personal loan. Use these strategies, plan smartly, and pay off the EMIs hassle-free!

Previous Post

3 Factors to Consider Before Buying a Home

Next Post

Best Cheap Gaming Laptop

mindmingles

mindmingles

Related Posts

Partial withdrawal in ULIP: What you should know about it
Finance

Partial withdrawal in ULIP: What you should know about it

by Swati
November 7, 2022
houses
Finance

The Types of Services offered by a Mortgage broker

by mindmingles
July 25, 2022
pet
Finance

How Does Pet Insurance Work in Australia?

by mindmingles
February 21, 2022
finance
Finance

5 Ways How Home Loan Refinancing Helps

by mindmingles
March 11, 2022
finest Bitcoin wallets
Finance

The finest Bitcoin wallets for keeping and protecting your crypto

by mindmingles
March 15, 2022
Next Post
Best Cheap Gaming Laptop

Best Cheap Gaming Laptop

Leave a Reply Cancel reply

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

Premium Content

Most Popular Brands in Dubai

Top 15 Most Popular Brands in Dubai 2020

April 17, 2020
Best Camera Rumors in 2020

Best Camera Rumors in 2020

March 10, 2020
cryptography

Cryptography: Meaning, Types, Functions, Drawbacks and Method

July 21, 2020
Cost To Paint A House

Cost To Paint A House

March 24, 2021
5 Best PC Speakers for Gaming

5 Best PC Speakers for Gaming

May 15, 2023
What is Shop Pay

What is Shop Pay

March 24, 2021
Education

Z-Library: Breaking Barriers to Information

November 30, 2023
Z-Library: Breaking Barriers to Information

At Z-library, we take pride in being the foremost digital library space on the internet, open and free to all....

Read more
by samanvya
0 Comments
Education

Z-Library: Breaking Barriers to Information

November 30, 2023
Tech

Taiwanese Innovations Fueling the Future of Entrepreneurship

October 31, 2023
Computer

Useful computer science languages for developing AI

October 20, 2023

Copyright © 2023 All Rights Reserved | Powered by Ventuneac

No Result
View All Result
  • Contact Us
  • Home
  • Tech
    • Gadgets
    • How To
    • Cryptocurrency
    • Alternatives
    • Gaming
  • Real Estate
  • Finance
  • Business
    • Marketing
    • Startup
    • Market Research
  • Travel
  • Lifestyle
    • Health
    • Fashion
    • Food
    • Education
  • Entertainment

Copyright © 2023 All Rights Reserved | Powered by Ventuneac

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?