Personal Loan

Top benefits of using an EMI calculator for your loans


People usually buy things in instalments that they need to pay off monthly. This applies to personal loans as well. Using an EMI calculator can help you in many ways. Let’s discuss some of them.

When we buy something in instalments, we have to pay interest. This interest is based on the period. It can be easily calculated.

Using an EMI calculator can tell you whether taking out a loan is a good idea. It tells you the amount to be paid every month. The monthly payment is calculated using an EMI calculator.


  1. Decide according to your income.

You can compare your earnings and spending. Take a look at the period. Decide on all the important things. Keep in mind your budget. Plan everything. Write everything. Make a report. Learn about interest. Calculate the instalment according to your needs.

This is very helpful for people. It allows them to organise everything. It helps them pay according to their capabilities. This type of planning can further help them in the future.

  1. Plan for the unexpected.

The earnings and spending are not equal for the whole year. People spend more during festivals. Some have marriages ahead. Sometimes, you need to pay the doctors. The schools charge more in some months. This should be taken into account while calculating. It is possible by using an EMI calculator. You have to plan to keep everything in mind. No decision should be taken in a hurry.

All this should be planned before taking the loans. This will give healthy results.

  1. Choosing the best

Using an EMI calculator will help you choose the best product. You can compare. You have the freedom to keep a check on the budget. You can take a look at the reviews. Decide the period based on comparisons. Make a report. Then choose the best option. This choice should be made keeping a few things in mind. This includes the budget, additional expenses, disasters, and future events.

  1. Very easy to use.

An EMI calculator is available online. It is very easy to use. It is available in offline stores, too. Anybody with a little bit of knowledge of finance can use it. It is even available on websites. So you don’t need to buy an actual one. So many options are available for relief. It just requires proper knowledge. Even kids learn these types of calculations in school.

  1. No Errors.

Doing calculations on paper can have errors. Using an EMI calculator is the best option. There’s no chance of error when you use it. It can provide the best results possible.

  1. Improve CIBIL score.

You can decide on the EMI based on your budget. Hence, you can pay it on time. When you plan everything, you can do everything on time. This can help increase the credit score. No check bounce will occur if everything is planned.

  1. Save money.

There’s no need to hire somebody to calculate. There is no need to maintain long records of budgets. Plan everything yourself. Cut out extra expenses. Maintain records for everything. This will motivate you to save more money. Choose your EMI with your comfort in mind. Keep a record of the period. This is possible from the comfort of your home. There’s no need to travel. This, in turn, saves money.

  1. Thinking practically.

Using an EMI calculator is very easy. But the results are very helpful. When you study your expenses, a lot of things get revealed. This leads to practical thinking. It helps you understand the budget. It helps you learn more about finance. It displays your financial condition. It helps you think about the future. It makes you aware of potential dangers. It motivates you to save money. It stops you from buying stuff you don’t need. It stops you from taking a loan that is difficult to pay off.

  1. Life values.

Using the EMI calculator has no practical value. But the process behind it does. It lands you in the world you are running from. Nobody plans a budget. Buying a house seems easier. But paying off debts is difficult. This planning will bring you out of the world of dreams. You will be exposed to reality. You will learn to save. You will learn what your parents did. The things you experience are not forgettable. This will help you understand the sacrifices. This will motivate you to think about the future.

  1. Spread knowledge.

Teach the kids about finance. Calculating EMIs can teach you about taking decisions. It seems like something small, but it requires deep knowledge of the budget. It requires planning. When the kids see your plan, they can also learn to plan. Like you plan your budget. Teach them to plan their homework. Introduce them to the world of planning. This will surely help them in the future.

In short:

  • You will start saving money.
  • You will value your parents.
  • You will learn the power of planning.
  • You will learn to organise.
  • You will be able to differentiate between right and wrong.
  • You will think about the future.
  • You will stop copying rich people.
  • You will have a wide vision.
  • You will learn the power of time.
  • You will be able to make decisions.Hence, the research behind your EMIs will teach you a lot.


The EMI calculator surely helps you calculate EMIs. But the process behind it teaches a lot. It helps with having an organised life. It helps to balance everything. You become your own master. The deciding factor lies with you. You have the power to make choices. You are exposed to future outcomes. You become responsible for your fate. It also helps you plan. Planning is very important in life. And in finance, it has unimaginable benefits. You can save yourself from debt. Have a good credit score with a very easy approach. 

Hence, using an EMI calculator can teach you a lot. It’s just a matter of perspective. Some learn human values even through machines. And some are so blind to their own decisions. For more informative pieces, visit Primal Finance.