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  Personal loans are a popular financial product among individuals who need quick access to funds for various reasons such as home renovations, medical expenses, or education. However, it's important to understand the financial commitment you're making when taking out a personal loan and to calculate your Equated Monthly Instalments (EMI) to ensure that you're able to repay the loan comfortably. Here's how to   calculate personal loan EMI   online. Step 1: Know Your Loan Details The first step in calculating your personal loan EMI is to gather the necessary loan details. This includes the loan amount, interest rate, and loan tenure. The loan amount is the total amount of money you borrow from the lender. The interest rate is the rate at which the lender will charge you for borrowing the money, and the loan tenure is the duration of the loan in months or years. Step 2: Use an Online EMI Calculator Once you have the loan details, you can use an online EMI calculator to de

  When it comes to managing your finances, having access to credit is essential. There are two popular options available in the market that can provide you with the necessary funds for your financial needs – personal loans and overdrafts. Both these credit options have their advantages and disadvantages, and it can be challenging to determine which one is the best fit for your needs. In this article, we will discuss the key differences between personal loans and overdrafts to help you make an informed decision. What is a Personal Loan? A  personal loan  is a type of unsecured loan that you can use for various purposes, such as home renovation, debt consolidation, medical emergencies, education, or other personal expenses. Personal loans are typically offered by banks and financial institutions and have a fixed repayment schedule. You need to pay back the loan amount in equated monthly instalments (EMIs) over a specific tenure, ranging from one year to five years, depending on the lende