India, April 29 -- Taking out a personal loan is often an important financial decision. Whether you're planning to renovate your home, fund a big purchase, or cover an emergency expense, understanding the cost of borrowing is essential to ensuring your financial stability. One of the best tools you can use to navigate loan repayments and reduce stress is an interest rate calculator. This handy tool helps you determine the amount of interest you'll be paying on your loan and plan your repayments effectively.

In this article, we'll explore how an interest rate calculator works and how you can combine it with a compound interest calculator to manage your borrowings and make informed decisions.

An interest rate calculator is a simple, yet p...