Aditya Birla Personal Loan EMI Calculator Feb 2023 - Wishfin

Aditya Birla Personal Loan EMI Calculator

Taking a personal loan can be very confusing sometimes due to the availability of so many lenders in the market. This is where the Aditya Personal Loan EMI Calculator can help you. Not only does it help you choose the right lender but also helps you plan the personal loan. What it does is it gives you the Equated Monthly Installment (EMI) figure that will help you know how much money will be going from your account during the loan period. There are numerous other ways in which Aditya Birla Personal Loan EMI Calculator can help you.

What does the Aditya Personal Loan EMI Calculator take as inputs to run its Algorithm?

Aditya Birla Personal Loan EMI Calculator breakdown the complex EMI calculation process into an affair that will just take some milliseconds. For such speedy results, it uses just three components, which needs to be entered by you – Interest Rate, Loan amount and Tenure. The algorithm takes these three factors into consideration to give away the final result. It helps you to not go through the pain of calculating the incredibly complex formula, EMI = P . r . (1+r)^n/((1+r)^n – 1)

P = Principal Amount
r = Rate of Interest
n = Tenure of the loan (in months)

So, imagine going through the pain of calculating the EMI using the above formula. Not only does it frustrate you but also leaves the possibility of errors. Using Aditya Birla Personal Loan EMI Calculator means easy calculation, no errors and time saver.

How to use Aditya Birla Personal Loan Calculator?

It’s easy-peasy! Not much to do. All you have to do is just enter three details in the boxes specified. Enter the ‘loan amount’ you want, the ‘tenure’ you want the loan for, and the ‘interest rate’ you desire. Once you hit these details, the EMI calculation will be on your screen in a matter of few milliseconds. Alongwith this, an amortization table will also be shown to you, to help you know how your loan will progress over time. The amortization table reflects the ratio of principal and interest amount until the maturity of the loan.

For example, Mr. Sahdev Murty wants to take a personal loan for INR 5 lakh from Aditya. He desires the loan for a total period of 5 years and at an interest rate of 11.25% per annum. Have a look at his EMI and interest outgo over the course of the loan.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 5,00,00011.25%1₹ 44,249₹ 30,990₹ 5,30,990
₹ 5,00,00011.25%2₹ 23,362₹ 60,688₹ 5,60,688
₹ 5,00,00011.25%3₹ 16,429₹ 91,430₹ 5,91,430
₹ 5,00,00011.25%4₹ 12,984₹ 1,23,210₹ 6,23,210
₹ 5,00,00011.25%5₹ 10,934₹ 1,56,019₹ 6,56,019

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YearPrincipalInterestBalance Amount
1₹ 78,942₹ 52,262₹ 4,21,057
2₹ 88,295₹ 42,908₹ 3,32,762
3₹ 98,757₹ 32,447₹ 2,34,005
4₹ 1,10,458₹ 20,745₹ 1,23,546
5₹ 1,23,648₹ 7657₹ 0

How can the Aditya Birla Personal Loan EMI Calculator Benefit You?

Time Saver: If you do the calculation by yourself, you’ll definitely be drained out by the number of hours and energy it will take. Whereas, the personal loan EMI calculator by Aditya Birla does the job in a matter of few seconds. Yes, that’s true. Within moments of you entering the three details, the personal loan calculator gives you the EMI result.

Easy Usage: It’s not some complex technology to use. Aditya Personal Loan EMI Calculator is just like the regular calculator where you enter a few details and the calculator does the rest of the job for you.

Assists in Planning: When you take a debt, paying it off should be your first priority. Normally, personal loan EMIs take away 20-30% of your salary. So, a planning, well-in-advance, is definitely need. In order to plan, you need an approximate figure, which is the result provided by the personal loan EMI Calculator by Aditya Birla. The Equated Monthly Installment (EMI) value helps you plan out your expenses after you’ve taken the loan. You will know what expenses to cut down and which ones are necessary.

Helps in Comparison: The EMI value determined by the Aditya Birla Personal Loan calculation helps you to make comparison with other lenders so that you choose what is best suited for you.

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