Personal loan emi calculator citibank

 

personal loan emi calculator citibank

We will get back to you soon. In case you wish to change anything, simply drop an e-mail to customercare@tatacapital.com

Personal loan emi calculator citibank

Banks/NBFCs offer a variety of loans, many of which are for specific purposes. For instance, for buying a home or a car a person would need to apply for a home loan or a car loan respectively. A personal loan, however, could be used for anything, and hence the name. You could use a personal loan for investing in a new business, or for financing your wedding. Sometimes people also use a personal loan to pay off the debts from other loans in case the personal loan has a lower interest rate.

A term loan is a loan that has a fixed interest rate and maturity date. For example- if you want to establish a business, you can get a term loan from your bank/NBFC. You start with applying for the loan. If your application is approved, you can then negotiate the interest rate with the bank/NBFC and settle for value. You also have to agree to a fixed number of instalments over a period of time (which will also be fixed). Most term loans mature within 10 years.

Terms loans are quite popular as they are financially well-stable, and offer good security to the lender and the loanees due to its “fixed” nature. Both the parties have a clear idea of the amount of the EMIs, the frequency of the EMI, and the duration of the loan. Plus, transparency is high, and the pressure is low.

We will get back to you soon. In case you wish to change anything, simply drop an e-mail to customercare@tatacapital.com