Is there a personal loans EMI calculator in the UK?
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Written on: 10.11.2009 [11:18]
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Ethan
Ethan
Topic creator
Posts: 2
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Hello there I wonder if you can help me. I am a little bit new to finance in the UK, and I would like to organise a personal loan. I need to know if I can afford to do this. In India there is a calculator that tells you the EMI, the Equated Monthly Installments. Do you have a personal loans EMI calculator here? The calculators I have found tell you the APR. |
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Written on: 04.12.2009 [11:34]
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Hussain
Hussain
Posts: 2
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Hello! Yes, the comparison calculators here tell you how the loans compare to each other. This is based on the APR, which indicates how much the loan will cost you in interest charges overall. I take it that you would like to work out how high your monthly repayments will be? Repayments tend to be fixed, and fluctuate depending on the amount that you borrow and the interest rate you are charged. You can use a loan comparison calculator to tell you the cost of the repayments too! If you go on money supermarket for example, you can enter in the amount of money you need to borrow, the repayment period and your home-owner status and it will show you a range of loan deals. For each one it tells you the APR but also the Amount Per Month (how big the repayment is based on the APR listed). This is the EMI! |
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