When you are looking to take a loan for any reason,
one of your prime concerns would be the EMI that you will have to pay. It is an
important part of the decision, as EMI has to be paid month after month for
years. So you don’t want to get stuck in a loan repayment schedule that is
unmanageable for you. Isn’t it?
It is for this very reason that experts suggest
that you calculate your loan EMIs even before applying for a loan. Now even
though the loan amount you need depends on your requirement, you need to be
aware of your repayment ability. You just can’t take a loan with EMI of Rs
25,000 when your monthly income is Rs 30,000. It’s not feasible or sensible.