What are the three variables required to use travel loan calculator?
You have to provide the following three variables to use the travel loan EMI calculator:
The loan amount – This refers to the principal loan amount you wish to borrow. This has a direct effect on the EMI.
The rate of interest – You have to select the rate of interest most suitable to you, within the range permitted by the lender. This has an inverse effect on the EMI.
The tenure of the loan – This refers to the duration within which you plan to repay the loan completely. The relationship between the EMI and the tenure is slightly complex.
- What formula does the travel loan calculator use to measure the EMI?
- Does the user have to upload any travel loan documents to use the EMI calculator?
- Is the result given by the travel loan EMI calculator accurate and reliable?
- Is the travel loan calculator the same as a travel insurance plan calculator?
- Does the travel loan calculator also consider the credit score of the potential borrower?