Personal loans, April 28 -- When you are looking for a personal loan, one of the key considerations is to determine the loan tenure. This has a direct bearing on your EMI. Longer the loan tenure, smaller the EMI and conversely -- shorter the tenure, bigger the instalment.

Therefore, at the time of choosing a personal loan, you are recommended to make note of the following.

I. To make EMI smaller: When your loan EMI is large, you may consider increasing the loan tenure. This will bring down your EMI. Suppose, you are taking a personal loan of Rs.5 lakh and rate of interest is 11 percent - your monthly instalment would be Rs.23,304. In this scenario - if you want to bring it down, you can increase the tenure of loan - say three years -- t...