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Top 5 Benefits of Personal Loan EMI Calculator

Top 5 Benefits of Personal Loan EMI Calculator

Last updated: May 04, 2022, 06:33 AM IST

When it comes to personal loans, every month’s installment (EMI) is one feature that decides whether to go ahead with a personal loan or not. Since personal loans are transformed into a digital format, the loan features are also simplified alongside, making the entire loan procedure easy. Borrowers who had issues about installments to be paid every month can now be at ease as instant loan apps online have an inbuilt EMI calculator to simplify the way EMIs were calculated considering manual calculations.

Digital transformation in the financial domain has led to various benefits for the borrowers. Out of the many beneficial features is the personal loan EMI calculator, which simplifies the installment calculations within the budget.
 

Let’s touch upon the top 5 benefits of the personal loan EMI calculator:

 
  1. Ease of Use

    Being an in-built tool within the loan app, it is quite user-friendly. Borrowers just need to add their principal amount and tenure and select the prevalent interest rate. Within seconds, the EMI calculator displays the result.
     
  2. Flexible Tool

    The EMI calculator is high on flexibility as the three variables entered can be flexibly edited till the time borrowers are not satisfied with the EMI amount. This benefits the per month budget setting goals, helping with setting an affordable EMI.
     
  3. 100% Accuracy

    As the EMI is calculated in real-time on a digital personal loan app, there is no scope for inaccuracy. Hence, borrowers can be 100% sure about the accuracy rate while using an EMI calculator on a personal loan app.
     
  4. Saves Time

    Manual EMI calculation is a tedious and time-consuming process that can often lead to inaccuracy. Hence, when the financial need is urgent, it is best to consider an EMI calculator to save on extra time spent on calculating EMIs.
     
  5. Speeds up the Loan Process

    Once the EMI is decided within the budget and seems affordable to the borrower, the next step is going ahead with the personal loan application at a faster pace. Faster calculation of installments with accuracy speeds up the personal loan process online.
     
Hence, the new age instant cash loan apps bring a host of benefits for the borrowers. EMI calculator is indeed a useful feature within the personal loan app that gives confidence to the borrowers to go ahead with a personal loan, calculating affordable EMIs in advance.

SimplyCash by Hero FinCorp is a popular loan app featuring a user-friendly EMI calculator. This can be used when applying for a personal loan at SimplyCash between Rs 50,000 to 1.5 lakh. Timely repayment of EMIs can build a strong financial record and a great CIBIL score. Having a high CIBIL score can help you raise funds in the future with ease.

The SimplyCash Personal Loan EMI calculator is a handy tool for borrowers seeking an instant personal loan. It would help a borrower accurately estimate their monthly loan installments (EMI) well in advance. A borrower would thus be able to ascertain an amount towards EMI from their monthly income and ensure regular EMI repayments to avoid penalty charges.

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.  

Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.

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