Personal loan, March 3 -- If you are planning to raise a personal loan, it is vital to note that it usually has a fixed interest rate, which means the monthly instalment at which you start paying at the start of the loan will continue till the end of the loan.

However, there are three variables on which your loan EMI is dependent. These three variables are on which your EMI depends are following:

A.Rate of interest: This is the interest which the bank is charging on loan. Higher the rate of interest, larger the monthly instalment.

B.Tenure of loan: This is the total period for which the loan is scheduled to continue. When the borrower is supposed to repay the loan over a period of five years, the loan's tenure would be five years. Long...