New Delhi, May 2 -- If you are planning to raise a personal loan, one of the important decisions that you need to make is to decide about the quantum of monthly instalment which is also known as an EMI or equated monthly instalment. Higher the loan EMI, shorter the loan tenure. Conversely, smaller the EMI, longer the loan tenure.

The amount of EMI can be easily computed by using a personal loan calculator which calls for three essential inputs. But before that, let us first understand what exactly a personal loan EMI calculator is.

Those who are not aware, apersonal loan EMI calculator is an online tool wherein - as the name suggests - you can calculate the instalment by entering different variables - loan amount, tenure of loan andrate...