How DCB Bank Personal Loan EMI Calculator Helps you in Managing your Finances?

1. How DCB Bank Personal Loan EMI Calculator Helps you in Managing your Finances?   A need of funds can emerge from anywhere without any prior information. In such times, you could borrow the funds  from your family, relatives or friends. But it’s not important that they will always be in a condition to help you or the  amount you need was so huge that even they can not help it. Suppose that you need a sum of INR 2 lakhs to fund  your child’s marriage, you know that this is a huge amount and it would be difficult for anyone you know to arrange  this sum. For such difficult times, you can opt for a personal loan provided by various banks and financial companies.     DCB Bank is one of the leading commercial banks of India that provide the facility of personal loan to the customers  who are in need of funds. The personal loan can be opted for various reasons and best suited to various financial  requirements of yours. Whether you want to buy an iPhone or want to travel abroad or you want to fulfill any other  personal needs, a DCB Bank personal loan would be most suitable for you. In this article, we would be telling you  about the ​DCB Bank personal loan EMI Calculator​, how can you use it, and why it is important to use it before  opting for a loan. Keep reading!    What role does Rate of Interest play in EMI Calculation?    Before knowing the importance of rate of interest, it is important to know what is EMI? Abbreviated for Equated  Monthly Installments, this is the monthly installments that you will be paying every month while repaying the loan. It  is a way of repaying the loan that you have taken. Coming onto the importance of it, ​DCB Bank personal loan  interest rate​ is the deciding factor for your EMI. Your EMI directly depends on the rate of interest of your loan. Higher  the rate of interest, higher will be your EMI. This is the reason that you should always look for the interest rate before  taking the loan amount. It depends on a lot of factors such as your age, employment type, monthly income, and CIBIL  score. The last factor is considered to be the most deciding factor.     What is DCB Personal Loan EMI Calculator and how does it help you?    DCB Bank personal loan​ EMI Calculator is an amazing tool to determine the value of the monthly installments in an  easy way. An EMI Calculator helps you in having an estimate about the amount beforehand to prepare you in a better  way. Many people ask why it is important to have an estimation about the EMI before the loan? Well, if you would  have a proper figure as the EMI amount, it will be suitable for you to manage your finances in that particular way.  Otherwise, the hefty EMI can ruin your finances and you may also default. A constant delay in the paments can hurt  your CIBIL score.     What are the details that you will need to use DCB Bank EMI Calculator?    As you know that any calculator can not function without any input. Similarly, DCB Bank ​personal loan EMI  Calculator​ also can not function without any inputs. You must be wondering about the inputs that you will need.  There are mainly three details that you will need to have - Required Loan Amount, Rate of Interest, and Required  Tenure.     First thing is the loan amount. With the help of DCB Bank, you can opt for a minimum loan amount of INR 5 lakhs  and a maximum of INR 1,00,000. Fill the required amount. The second thing will be the DCB Bank personal loan rate  of interest. After that the last thing you will need will be the required number of years in order to repay the loan. It can  be a maximum of 5 years.     As soon as you feed all these details into the calculator, you will get the EMI amount within a flash of second.