Here's How To Check Your Personal Loan Statement

A personal loan statement is a document that lists all the information related to your personal loan account. It includes details on the loan amount, interest rate, repayment period, EMI (Equated Monthly Installments), and the balance still owing.

The personal loan statement also displays the history of payments, including the total paid, the payment date, and any fees or penalties that might have been incurred. It's crucial to frequently review your loan account to ensure you know the sum still owed and how close you are to paying off your loan.

You can take the following actions to check your personal loan statement:

• Enter your user ID and password to connect to your website account.

• Go to the "Loan Information" section after logging in.

• Your personal loan account number and the current balance are both located here.

• See your personal loan statement by selecting the "Statement" tab.

• You can select to view your statement for a particular month or a specific timeframe.

• When you've decided on a time frame, click the "Download" button to get the statement in PDF format.

• By choosing the "Email Statement" button, you may also opt to get your personal loan statement through email.

• You can ask for help from customer service staff if you encounter difficulties while reviewing your loan statement.

What is a personal loan EMI calculator online?

You may determine the monthly instalments you would have to make on your loan using an internet tool called an EMI (Equated Monthly Installment) calculator. The fixed amount you must pay monthly to repay your loan within the predetermined timeframe is the EMI.

To utilise a personal loan EMI calculator online, you must enter the loan amount, interest rate, and tenure. The calculator then uses these parameters to determine how much EMI you must pay. Also, it displays the total interest owed and the sum due throughout the loan.

By estimating the monthly instalments you would be required to make on your loan, an EMI calculator can help you better arrange your finances. To determine the EMI that best fits your budget, you can experiment with different combinations of the loan amount, interest rate, and tenure.

What are the uses of an EMI calculator?

• Aids in financial planning: By providing you with an estimate of the monthly instalments you would be required to make towards your loan, the EMI calculator aids in efficiently budgeting your money. You can plan your budget and manage your costs more effectively.

• Choose the loan amount that best fits your budget by experimenting with different combinations of the loan amount, interest rate, and tenure using an EMI calculator. It aids you in determining the appropriate loan amount for easy repayment.

• Comparing loan choices is made easier with the use of an EMI calculator. Various banks or financial institutions provide several loan options.