Amortization is the concept of dividing your loan amount into tiny bits and paying each one individually on a monthly basis. As most people in an emergency may require a huge sum of money, in a personal loan amortization, they are able to fulfill that pot by repaying a small amount every month.
In the case of personal loan amortization, you will be granted to pay your personal loan’s interest and principal in different amounts each month which can also be called your EMI.
Here is a tool from Fullerton India to help you understand and visualize what a personal loan amortization could look like.
To get an idea on the kind of EMI commitments you will be liable for every month, follow the simple steps below to find your EMI plan:
The benefits of personal loan amortization calculator are:
Simply put, the personal loan eligibility calculator tool is an intuitive, smart and a free of charge tool offered by Fullerton India that helps you understand better how your EMIs would like in the future. It helps you through one of the most important stages of the loan application process which involves planning your future financial liabilities.
Here are some articles which could help you understand us and our products better. Do share your comments and let us know what you think!