{"id":3254,"date":"2019-04-17T05:37:34","date_gmt":"2019-04-17T05:37:34","guid":{"rendered":"https:\/\/www.therono.com\/?p=3254"},"modified":"2019-04-17T12:31:17","modified_gmt":"2019-04-17T12:31:17","slug":"title-how-to-manage-personal-loan-emi-payments","status":"publish","type":"post","link":"https:\/\/www.therono.com\/title-how-to-manage-personal-loan-emi-payments\/","title":{"rendered":"How to Manage Personal Loan EMI Payments?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A personal loan is an immediate funding option that can cover your urgent needs. It is offered on the basis of your CIBIL Score, repayment and employment history. Based on your eligibility, you can get a personal loan of up to Rs.25 lakh from leading banks and non-banking finance companies. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, some people don\u2019t apply for it fearing the higher loan interest rates and the personal loan EMIs that they would need to pay per month. Hence, not being able to manage the monthly outlays may derail personal loan EMI and thus, people avoid it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, by following some easy tips, you can easily manage or reduce your personal loan EMI so that it does not hamper your other monthly expenses. <\/span><\/p>\n<ul>\n<li><b>Opt for a personal loan with a longer tenor <\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You can ask your lender to offer you a longer tenor so that you can stretch your loan amount over a long tenor and pay reduced EMIs. Most of the leading lenders offer a tenor ranging between 1-5 years. Thus, you can opt for the highest loan tenor and pay smaller EMIs per month to manage other monthly expenses. If you don\u2019t have any idea about the exact EMI that you will pay per month, there is a way out. You can use an online tool such as the <\/span><a href=\"https:\/\/www.bajajfinserv.in\/personal-loan-emi-calculator\"><span style=\"font-weight: 400;\">personal loan EMI calculator<\/span><\/a><span style=\"font-weight: 400;\"> available at a leading lender\u2019s website for free. It gives you an exact payable EMI figure that you will pay on the desired loan amount. <\/span><\/p>\n<ul>\n<li><b>Negotiate with your bank for a lower personal loan interest rate \u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The other method to reduce your personal loan EMI is by negotiating with your lender for a lower personal loan interest rate. When a lender does that, your loan EMI will be reduced, and you can manage it easily. If you have a better Credit Score, have a strong repayment and income history, you can surely negotiate with a lender. <\/span><\/p>\n<ul>\n<li><b>Apply for a personal loan with your existing savings bank <\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you are already a customer with a particular bank, it would be a smart move to consider the same bank for opting for a personal loan. It will work in your favor if you have a healthy relationship with your bank. In this case, they may retain you and award a lower interest rate helping you pay lower EMIs. <\/span><\/p>\n<ul>\n<li><b>Shop around <\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You can also look for the best personal loan offers with a lower rate to assist you in paying lower EMIs. It can be done by comparing all loan offers at a third-party website. It can help you pick an offer that best suits your needs and repayment capacity for EMIs in advance. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enjoying a lower personal loan EMI is super possible if you can follow the discussed tips. Once you are ready, you can <\/span><a href=\"https:\/\/www.bajajfinserv.in\/personal-loan\"><span style=\"font-weight: 400;\">apply for a personal loan online<\/span><\/a><span style=\"font-weight: 400;\"> and get going!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bajaj Finserv offers pre-approved deals on personal loans, home loans, business loans, EMI finance, and credit cards and beyond. It will help you go through the loan formalities hassle-free and faster.<\/span><\/p>\n<p><strong>Recommended Reading:<\/strong>\u00a0<a href=\"https:\/\/www.onlinesbicsp.com\/\">SBI Kiosk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A personal loan is an immediate funding option that can cover your urgent needs. It is offered on the basis of your CIBIL Score, repayment and employment history. Based on your eligibility, you can get a personal loan of up to Rs.25 lakh from leading banks and non-banking finance companies. However, some people don\u2019t apply [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":3255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[],"_links":{"self":[{"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/posts\/3254"}],"collection":[{"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/comments?post=3254"}],"version-history":[{"count":5,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/posts\/3254\/revisions"}],"predecessor-version":[{"id":3260,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/posts\/3254\/revisions\/3260"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/media\/3255"}],"wp:attachment":[{"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/media?parent=3254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/categories?post=3254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.therono.com\/wp-json\/wp\/v2\/tags?post=3254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}