Our EMI calculator provides you 100% accurate results, which is quite impossible to get manually.
The process of calculation gets simplified by using the EMI calculator
You don’t have to wait for hours to get the results. Instead, the result of the EMI calculation would get reflected on your screen within a few minutes.
To make you understand, our EMI calculator also provides the graphical representation of the calculation.
No matter what type of loan you avail, the calculator will process its calculation accordingly as it gives loan specific results.
You will also get the loan amortization table, which explains the details of the loan repayment process.
The loan is one of the best options to meet your monetary needs, but repaying the entire loan amount in bulk is quite a challenging task for the borrowers. To help the borrowers repay the loan easily, banks and other financial institutes allow monthly repayment of the entire loan amount. At Xolight Finance, our aim is to offer low EMIs to the borrowers, so that they can easily repay in accordance with their monthly income.
Benefits of Repaying the Loan in EMIsRepaying the entire loan amount in bulk is a hard task as you will have to cut down your day to day expenses for repaying the loan. Thus, monthly installments make the repayment easy for borrowers. The loan repayment tenure extends up to 20 to 25 years depending upon the type of loan you are taking. So, you can keep the EMIs as low as 1700 only. Here are some of the major benefits of repaying the loan in small monthly installments; have a look:-
What Payments are Included in EMIs?
Your monthly installments for the loan include the principal sum as well as the interest amount. Slowly and gradually with the passage of the time, you end up paying the entire loan amount. Many banks follow the monthly reducing balance method for calculating interest which lowers your interest amount every month. In this method, interest is charged on the outstanding principal of every month. It is to be noted that the extent of principal amount and interest included in the EMI varies from bank to bank, so know the details about your installment beforehand only.
Know your Expected EMI in Clicks
With our EMI Calculator, you can know your expected monthly installments even before applying for the loan. Just fill in some basic details, like loan amount required and your monthly salary, and our EMI calculator will instantly tell you the lowest monthly installment with the principal amount as well as interest included in it. If you want to repay the entire loan in a short span of time then you can increase the monthly repayment amount in accordance with your income.
With Xolight Finance, you also get access to numerous repayment options like online transfer, auto debit from the bank and numerous others which make the entire repayment process a child’s play.