Business

How to compare loan schemes from top banks using EMI calculator?

 

Each one of us thinks of availing some kind of loan in our lifetime. How do you decide which loan to go for and from which bank? Isn’t it a tedious task to compare the loan interest rates of different banks?  You also need to calculate the EMI after comparing the interest rates. All of this becomes quite cumbersome if you do not have the right tools to perform this task of comparison. Various websites provide you the comparison of the interest rates from the top banks of India. One such amazing website is upwardly.in. It provides you online tools such as the FD calculator, RD calculator, EMI calculator, etc. The tools provided by Upwardly are quite reliable and fast in the calculation. You can totally trust their quotes.

Through this article, we will tell you how to compare the loan schemes from the top banks using EMI calculator. Let’s get started.

Taking a home loan is a critical decision in our lives. Before you avail home loan from any bank you should try to get as much information as possible about the interest rates of the various banks. To start with you should know how much amount each bank can give you. Then you should find the eligibility of the government banks and the private banks. Once you know all this you should try to get the information whether the interest rates on the loan is flexible or fixed.

Now you can easily get the quotes for different loan amount and tenure using the EMI calculator. You can decide yourself which bank to choose once you calculate the EMI with the online EMI calculator.

If you are looking forward to taking an education loan then you can choose from one amongst the SBI, PNB, HDFC, UCO Bank, Corp Bank, etc. All of them provide education loans. The websites providing EMI calculator also give us an opportunity to compare various loan schemes. You just need to enter the details asked there in and it will give you a detailed comparison of the loan rates across the banks.

Want to buy your own car, but don’t have sufficient funds for it? You can take the help of the EMI calculator on the websites like policybazar.com, deal4loans.com, upwardly.com, etc. Here you can instant quotes for all your loan needs. You can also compare the rates and EMI amount of the different banks offering car loans.

What is an EMI calculator?

The EMI calculator is an online tool that helps you to calculate the installments of the EMI payable on your home loan, car loan, or any other personal loan. EMI calculator asks for the following variables to calculate the EMI:

  • The loan amount
  • The interest rate
  • The tenure (the time period in which you will repay your loan)

After entering the above-mentioned variables the EMI calculator will calculate the EMI for you within seconds.

There are many websites which provide EMI calculator free of cost. The best among them is the one provided by upwardly.com. The best thing about the EMI calculator of this website is that it has a user-friendly interface and shows the accurate results within fractions of seconds. The EMI calculator on upwardly.com provides amortization tables also along with the information about the EMI installments and the breakup of the payments. EMI calculator works for different categories of loans and is quite convenient to use. It also shows a graphic representation of the EMI installments.