New Delhi, April 25 -- If you are planning to take a personal loan, it is recommended to find the optimum personal loan monthly instalment or equated monthly instalment (EMI). And it helps to use a personal loan EMI calculator to be able to calculate the right EMI.

There are three inputs required to be able to find the right monthly instalment. These inputs are loan amount, loan tenure andrate of interest.

I.Loan amount: The bigger theloan amount, higher the EMI and smaller the loan amount smaller theEMI. So, if you want to pay a smaller instalment, one of the easiest ways to do so is to reduce your loan amount. But if you can not compromise on that, what will you do? You can consider the other two determinants.

II.Rate of interest: An...