Overview of Personal Loan EMI Calculator
A Personal Loan EMI Calculator is a helpful tool which helps you to calculate your monthly installment of your personal loan. With the help of Personal Loan EMI Calculator an applicant can know what can be his or her monthly installment can be. To use the Personal Loan EMI Calculator you need few details which are- personal loan amount, personal loan interest rate, and personal loan tenure.
Personal Loan EMI Calculator will give you the information regarding your loan repayments and how you can save your money on your personal loan. The Personal Loan EMI Calculator will help you to meet your financial needs. You will know how much amount or how much personal loan interest rate you have to pay through your Personal Loan. Personal Loan EMI Calculator not only helps you to calculate your personal loan EMI but it will also help you to find out what is your personal loan eligibility. Personal Loan EMI Calculator will also help you to display the best personal loan offers as per your personal loan eligibility and personal loan requirements.
How Does personal Loan EMI Calculator work?
Personal Loan EMI Calculator India helps you to calculate your Personal Loan EMI based on your inputs. To use the Personal Loan EMI Calculator you have to put the following inputs of your personal loan.
Personal Loan Amount
To use the Personal Loan EMI Calculator first you have to input your Personal Loan amount or the amount you want to borrow from the bank or NBFC. The rate of interest of your personal loan depends on your personal loan amount. You can enter your personal loan amount according to your requirements on personal loan EMI calculator but your Personal Loan EMI should not be more than 40% of your current income.
After that, you have to put on the Personal Loan EMI Calculator the interest rate you are expecting from your bank or NBFC but you also have to remember that your personal loan interest rate can be fixed or floating according to your lending institution. In the floating interest rate the EMI amount changes time to time according to the base rate but in case of fix interest rate the EMI will stay the same.
The personal loan tenure is chosen by the applicant the longer tenure you choose the more interest amount you have to pay so try to choose small personal loan tenure you have to put on the personal loan EMI calculator. The Personal Loan EMI Calculator tenure starts from 1 year to 5 years, you have to put your chosen tenure on your Personal Loan EMI Calculator to calculate your EMI amount.
Here for the help, we are providing the Personal Loan EMI Calculator formula which is
‘E’ is EMI ‘P’ stands for Principal of the Loan amount in Personal Loan EMI Calculator
‘r’ stands for rates of interest calculated on a monthly basis on Personal Loan EMI Calculator
‘n’ stands for loan tenure on Personal Loan EMI Calculator
Benefits of Personal Loan EMI Calculator
Personal Loan EMI Calculator can be used to calculate the interest of your personal loan even if you are planning to take it. Personal Loan EMI Calculator will help you as it shows the EMI amount so you can understand your repayment ability. Here are the key benefits of Personal Loan EMI Calculator.
Personal Loan EMI Calculator is easy to use
You can make your Personal Loan EMI Calculation in excel spreadsheet but that is a tough time taking process. But with the help of Personal Loan EMI Calculator online you can easily find out your EMI amount. But in the manual process, you can make a mistake and that will affect you. Now with the help of personal loan EMI calculator you can easily find out your EMIs accurately.
Personal Loan EMI Calculator makes it in second
Personal Loan EMI Calculator helps you to get the amount you need to pay every month within a second. You just have to fill the require fields which are your personal loan amount, loan tenure, and the interest rate with the help of these three Personal Loan EMI Calculator will help you to give your Personal Loan EMI amount.
Personal Loan EMI Calculator helps on your repayment capacity
Personal Loan EMI Calculator shows you the EMI amount which will help you to plan your finance well as the EMI amount is displayed on personal loan EMI calculator. Personal loan EMI calculator tells you that how much amount you should take aside to pay your EMI.
Once you put all the required fields on Personal Loan EMI Calculator you have to click on the “get quotes” button under the personal loan EMI Calculator it will take to another page and it will also show your personal loan eligibility and best personal loan offers.
Personal Loan Interest Rates
|Bank Name||Loan Interest||Processing Fee Range|
|State Bank Of India||10.75%-15.55%||1.01% of the loan amount|
|ICICI Bank||10.99%-18.49%||0.99% to 2.25%|
|Yes Bank||14% per annum.||2% of the principal minimum 999|
|India bulls Bank||11.99% onwards||Up to 5%|
|Fullerton India||14.00%-33.00%||Up to 2.00%|
|Kotak Mahindra Bank||10.99%-20.99%||Up to 2.5%|
|Citi Bank||11.49%-17.99%||Up to 0.50%|
|IndusInd Bank||11%-16%||Minimum 1% maximum of 2.50%|
|Standard Chartered Bank||10.99%-14.49%||999 almost.|
|IDFC FIRST Bank||13.50%-16.00%||upto2%|
*Interest rates change time to time.
Lowest Personal Loan EMI per lakh May 2019
|Bank||Lowest EMI per lakh (as per personal loan EMI Calculator)||Max Tenure (as per personal loan EMI Calculator)|
|SBI Personal Loan||Rs. 2,658||48 months|
|HDFC Bank Personal Loan||Rs. 2,187||60 months|
|ICICI Bank Personal Loan||Rs. 2,187||60 months|
|Bajaj Finserv||Rs. 2,224||60 months|
|Citibank||Rs. 2,174||60 months|
|IDFC First Bank||Rs. 2,301||60 months|
|Axis Bank||Rs. 2,187||60 months|
|Tata Capital||Rs. 2,212||60 months|
|Fullerton India||Rs. 2,898||48 months|
|IndusInd Bank||Rs. 2,174||60 months|
|Kotak Mahindra Bank||Rs. 2,199||60 months|
|RBL Bank||Rs. 2,326||60 months|
|IIFL||Rs. 2,275||60 months|
|HDB Financial||Rs. 2,326||60 months|
|Punjab National Bank||Rs. 2,224||60 months|
|Andhra Bank||Rs. 2,202||60 months|
|Yes Bank||Rs. 2,162||60 months|
|Union Bank of India||Rs. 2,260||60 months|
|Bank of Baroda||Rs. 3,302||36 months|
|Syndicate Bank||Rs. 2,296||60 months|
|Standard Chartered Bank||Rs. 2,174||60 months|
|Bank of Maharashtra||Rs. 3,471||36 months|
|Canara Bank||Rs. 2,683||48 months|
|Corporation Bank||Rs. 3,367||36 months|
|Karur Vysya Bank||Rs. 3,413||36 months|
|Federal Bank||Rs. 2,608||48 months|
|Indian Overseas Bank||Rs. 2,260||60 months|
|Indian Bank||Rs. 3,276||36 months|
|Allahabad Bank||Rs. 2,283||60 months|
|IDBI Bank||Rs. 2,286||60 months|
‘P’ stands for Principal of the Loan amount in Personal Loan EMI Calculator
‘R’ stands for rates of interest calculated on a monthly basis on Personal Loan EMI Calculator
‘N’ stands for loan tenure on Personal Loan EMI Calculator