Personal Loan EMI Calculator
entire loan tenor.12122121
EMI Calculator for Personal Loan
Personal Loans are unsecured loans provided by banks and non-banking financial companies without taking any collateral. As the name suggest, Personal Loan can be availed for any personal reason ranging from purchasing of lifestyle products, marriage, holidaying, home renovation, desired gadget medical emergencies, et. getting a personal loan is a very simple hassle free process with easy documentation and generally sanctioned within 2-3 working days on submission of all necessary documents.
What is EMI?
Equated Monthly Instalment – EMI for short – is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off.
Parameters required for calculating Personal Loan EMI is as follows
Loan amount - Enter the loan amount you wish to borrow.
Tenor - Select the tenor as per your wish within 1 year to 5 years.
Interest rate - Input the rate of interest. This rate is monthly reducing balance rate.
Use the slider to input the above fields. Lastly click on the CALCULATE button.
Our Personal Loan EMI Calculator is user friendly. It is a fantastic tool which helps our customers to manage the different loan parameters and become debt free in the most favourable manner.
How it works and what you can see on the screen
As soon as you enter the specific inputs you get the EMI for your personal loan. Along with this you also get to see the Standalone Interest and principal breakup for the next month as well as for the entire tenor. This is not all. We also give the detailed amortization schedule for your personal loan up to the entire tenor. Following are the components of the amortization table
Year - Year wise break up details is mentioned in the amortization schedule.
Principal - How much principal amount is being deducted for the particular year from your repayments is being mentioned in the amortisation schedule.
Interest - How much interest part is being deducted for the particular year from your repayments is being mentioned in the amortization schedule.
Total Payment - How much amount you have paid till date is being mentioned.
Total Paid till date - Total outstanding balance till date is mentioned. Total Paid till date.
Why to Use our Personal loan EMI calculator by letzbank.com?
Following are the advantages
2. Easy and user friendly
4. Helps you to try various combinations of inputs to get the affordable EMI and tenure.
5. Tedious and time consuming task made very easy and simple.
Time consuming calculations that takes off your patience has now been simplified by letzbank.com. Thanks to the technology partners for creating such a user friendly tool for our customers to save their valuable time. So make use of our Personal Loan EMI calculator to calculate in simplifying your approach towards your affordable repayment schedule.