Take a moment to observe your surroundings – a substantial portion of what we possess is acquired through loans, with monthly EMIs quietly withdrawn from our accounts. The era of no-cost and low-interest EMIs has rendered us increasingly reliant on this financial model. To make informed decisions, it’s imperative to understand the intricacies.
If you’re contemplating a purchase on EMI, don’t hesitate to download EMI Calculator app. This powerful tool not only simplifies your calculations but also offers room for experimentation. Several months ago, when I was mulling over buying a new bike, I turned to the Bajaj Finserv app, my go-to for digital transactions, to utilize their calculator. Instead of struggling with vague estimates, I could now plan with precision.
But let’s start at the beginning. What’s an EMI?
It stands for Equated Monthly Instalment, a fixed monthly payment covering both principal and interest until your loan is repaid. Borrowers benefit from knowing their exact monthly commitment, while lenders benefit from interest earnings.
So, how can you calculate EMI with an EMI calculator app?
Begin by downloading and installing the Bajaj Finserv app from the Play Store or App Store.
Sign up with your personal details, then access the menu by clicking on the top left icon.
Choose ‘Try our Calculators’ and click on ‘EMI Calculators for Loans.’ Here, you’ll find three calculators: EMI Calculator, Flexi Day Wise Interest Calculator, and Flexi Transaction Calculator. Proceed according to your requirements.
The advantages of using an EMI calculator app are manifold. Complex calculations that usually consume ample time are completed in the blink of an eye, saving you precious time. With no room for error, it’s a reliable choice. Simply input loan type, variant, amount, interest rate, and tenor, and the app takes care of the rest. It enables experimentation in your loan decisions, ensuring your financial planning remains undisturbed.
While I’m not endorsing any particular organization, I do recommend this all-in-one app. It’s a revelation that it’s unnecessary to clutter your smartphone with multiple applications. Similarly, using numerous UPI apps for various payments is redundant. This advice is solely for the readers to consider.
For those contemplating EMI purchases, an EMI calculator download is a wise move, simplifying your financial journey.