Different types of loans have a different set of considerations, yet all loans have three basic factors that interact in different ways with each other to decide how you will repay the loan. First is the loan amount that you are seeking to borrow. This has a very straightforward relation with the loan period and the repayment amount. A higher loan amount will take longer to repay and result in a higher EMI amount and vice versa. The second is the loan period. The longer the loan period the lower will be your EMI amount. Also, the longer the loan period, the higher will be the interest amount you pay on the loan. The third factor is the rate of interest. The interest rate on a personal loan is usually higher when compared to other types of loans like home loans, car loans or education loans. It also depends on a range of factors such as your credit score and whether it is a secured or unsecured loan. Unsecured loans which do not have any collateral assets backing them have a higher rate of interest. Together, these three factors decide the total amount you have to repay the lender and the EMI amount. Use the Fi Money personal loan EMI calculator to handle these calculations for you so that you can make a more informed decision when it comes to applying for a personal loan.