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Any loan is a long-term commitment. It requires disciplined debt management to repay the loan on time so that you don’t end up with huge interest charges.
An important component of your loan is your monthly EMI amount. Corporation Bank Loans are generally issued based on your repayment capacity so you should be able to pay the monthly EMI comfortably. If you are not careful and prudent with your spending, you may face difficulty in repaying the loan and that can cause you a lot of financial and legal trouble.
So it is advisable to calculate the approximate EMI you will have to shell out before you apply for a loan. There are EMI calculators available on the Corporation Bank website to find out the EMI amount. Here are some benefits of using an EMI calculator before you apply for a loan:
- Enables you in properly planning your finances
- Simple and easy computation
- Explore a variety of options
- Reduces the amount of time it takes to make a decision
- Helps you determine the repayment tenure you want to choose
A Loan EMI Calculator is a calculator that allows you to calculate the approximate EMI you can expect on your loan from Corporation Bank.
An EMI Calculator requires you to enter the loan amount, the repayment tenure, and the tentative interest rate to arrive at the monthly EMI you will need to pay. Please note that this amount will not include any charges or taxes that might be levied on your EMI so the final EMI amount would be slightly different from what the calculator shows.