It’s the generation of loans. Want to get a good education? Education loan. Want to upgrade your car? Car loan. Want to buy a house? Home loan. In fact, now, we also have loans for those wanting to upgrade their iPhones.
While these loans speed up your dreams, they can at times, lead to confusion. You may want to get a handle on your expected EMI without visiting the bank or may want to understand the effect of prepaying your loan if you come into a lump of windfall gains.
This calculator helps solve some of these questions around managing loans.