EMI stands for equal monthly installments which is the amount payable per month for a personal loan taken for a specified period. You can apply for loans for various purposes or your short term needs. For keeping your monthly budget planned, it is necessary to calculate EMIs before taking a loan. The EMI payment may determine the expenses and the savings you need to do before applying for a loan.
Citibank also has a Citibank personal EMI calculator which helps you to calculate the EMI automatically. This can help you to plan your loan outlay and expenses in a month. Calculating the EMI manually is very difficult and time-consuming hence, the EMI calculator can be used.