Personal loan, Sept. 9 -- If you are planning to take a personal loan from a bank, an NBFC or a fintech platform, it is advisable to use a personal loan EMI calculator to check the monthly instalment based on certain key variables. These crucial variables are the amount of loan, the rate of interest and the loan tenure.

As you enter these three variables in an EMI calculator, you can find out the amount of the personal loan EMI. Now, if you want to decrease or increase your EMI, you can tweak these inputs as per your convenience. Let us understand this with the help of an illustration.

For instance, you want to take a Rs.10 lakh loan which is being offered at 11 per cent interest, and you initially intend to repay it in 5 years. The EMI...