The entire human race has survived and sustained till date because
it has been following the principle of interdependence. It is interdependence,
which has given rise to different vocations and business, and has helped the
human race to grow and flourish. Money is the best defined medium in the world,
and is exchanged actively between humans in returns for services or products
offered.
Still, at any point of time, every individual does not have his
hands full of money. Sometimes, he may not possess the necessary amount of
money to buy certain products, or avail peculiar services. At such times, he
may wish to borrow money from banks or other financial bodies, through the
provision of loans.
Loans have existed from the same time, when money started
exchanging hands. Prior to banks, loans were actively offered by merchants or
feudal lords, and the exact terms and conditions regarding the borrowing were
never defined. But now, times have changed, as banks offer loans to
individuals, based on a proven, well-defined methodology
For instance, a home loan is offered by banks to all
the aspirants who dream of living in a home of their own. However, different
banks offer levy variable charges, and the repayment structure of loan varies
accordingly. The repayments are usually done in instalments, which are
financially termed as EMI or Equated Monthly Installment.
However, the EMIs are known to vary based on the types of loans,
and the additional processing charges levied by banks. But, borrowers can now
get a brief idea of their EMI, by using an EMI calculator, which is readily
provided by banks on their websites.
This calculator revolutionizes the loan lending process by giving
the borrowers a complete idea of their borrowings within seconds. All the
hassles of meetings, phone calls, emails, etc; get eliminated with this
calculator. So, why go after loan agents for EMI calculations, when you can
easily plan your loan with this revolutionary product.
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