You have been managing your finances for quite some time now and in need of lump sum amounts to meet various needs. You may wish to buy your dream car, or construct the house- the blueprint of which has been in your mind for long, invest long term by spending for your children's education now, and splurge on lifetime moments of your loved ones or recoil at heavenly abodes across the globe.
Before approaching financial institutions, you want to have a rough estimate of the amount you can borrow?
We bring you a tool, to help you analyse the extent of loan you can avail depending on EMI that you are willing to repay month on month. It also presents the total liability you owe towards the loan and how much would you be shelling out in terms of interest, over your loan tenure.
You need to provide the following inputs:
1. EMI that you are willing to repay every month
2. Rate of interest that the financial institution is charging you
3. The number of instalments that you wish to spread your loan across.