New Delhi, Sept. 23 -- If you are planning to raise a personal loan, one of the vital things to consider is your monthly instalment or equated monthly instalment (EMI). Higher the amount, faster the repayment period. Conversely, lower the EMI, longer it would take to repay the loan.

Let us understand how it works. An EMI calculator uses three inputs: amount of personal loan, rate of interest and loan tenure. All three inputs have their unique impact on loan EMI.

For instance, when loan amount and interest rate are high, EMI would be high. But when loan tenur is long, EMI would accordingly fall.

Loan amount: This is directly proportional to loan EMI. When it increases, EMI increases, and when it falls, EMI also goes down.

Rate of inter...