| RESULTS | |
|---|---|
| Loan Amount | ₹₹ 2,50,000 |
| Interest Rate | 10.99%% |
| Tenure(Months) | 224 |
| Monthly Instalment (EMI) | ₹₹ 2,631 |
| Total Interest Amount | ₹ ₹ 3,39,334 |
| Total Amount (Principal + Interest) | ₹₹ 5,89,334 |
Curious to know the exact calculations of your monthly installments? If yes, use Axis Bank Personal Loan EMI Calculator online that will give you the accurate values of not only your EMIs but Interest Outgo as well. Get more insights on the page below.
With the help of an Axis Bank Personal Loan EMI Calculator, knowing your EMIs, Interest Outgo and Total Amount Payable is easy and quick. This magical device with its highly advanced algorithm allows you to know the exact calculation of your monthly installments in a hassle-free manner. All you need to do is just feed:
- Loan Amount
- Tenure
- Interest Rate
The moment you feed these credentials into the device, it will instantly churn out the results for you within few seconds. And, with the help of a graphical representation, it helps you to understand things in a better way.
Axis Bank Personal Loan EMI Calculator
Let’s just throw some light on this by taking a look at an example below:
Suppose, Yashika Malhotra, a 30-year-old, Content Writer by profession wants to avail a personal loan of ₹2 Lakh so as to pay her credit card debt. The bank has agreed to offer her the loan at an interest rate of 15.75% per annum for a tenure from 1 to 5 years. So, Yashika wants to know what would be her EMIs, Interest Outgo and Total Amount Payable towards a loan. So, she used a personal loan EMI Calculator online to know how much amount she needs to pay each month so as to repay her loan. Just take a look at the table below to find out the same.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 15.75% | 1 | ₹ 18,123 | ₹ 17,470 | ₹ 2,17,470 |
| ₹ 2,00,000 | 15.75% | 2 | ₹ 9769 | ₹ 34,450 | ₹ 2,34,450 |
| ₹ 2,00,000 | 15.75% | 3 | ₹ 7007 | ₹ 52,243 | ₹ 2,52,243 |
| ₹ 2,00,000 | 15.75% | 4 | ₹ 5642 | ₹ 70,839 | ₹ 2,70,839 |
| ₹ 2,00,000 | 15.75% | 5 | ₹ 4837 | ₹ 90,225 | ₹ 2,90,225 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 28,547 | ₹ 29,497 | ₹ 1,71,452 |
| 2 | ₹ 33,383 | ₹ 24,662 | ₹ 1,38,069 |
| 3 | ₹ 39,037 | ₹ 19,007 | ₹ 99,031 |
| 4 | ₹ 45,649 | ₹ 12,395 | ₹ 53,382 |
| 5 | ₹ 53,444 | ₹ 4663 | ₹ 0 |
Axis Bank Personal Loan EMI Calculation Formula
In order to calculate an EMI, the calculator uses the below formula:
EMI=[P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI=Equated Monthly Installment
P=Principal Loan Amount
R=Monthly Interest Rate
N=Number of Monthly Installments
Axis Bank Personal Loan EMI Calculator Details
Axis Bank Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 12% per annum
| Loan Amount | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| INR 1,00,000 | INR 4,707 | INR 3,321 | INR 2,633 | INR 2,224 |
| INR 3,00,000 | INR 14,122 | INR 9,964 | INR 7,900 | INR 6,673 |
| INR 5,00,000 | INR 23,537 | INR 16,607 | INR 13,167 | INR 11,122 |
| INR 7,00,000 | INR 32,951 | INR 23,250 | INR 18,434 | INR 15,571 |
| INR 10,00,000 | INR 47,073 | INR 33,214 | INR 26,334 | INR 22,244 |
| INR 15,00,000 | INR 70,610 | INR 49,821 | INR 39,501 | INR 33,367 |
Axis Bank Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 24% per annum
| Amount | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| INR 1,00,000 | INR 5,287 | INR 3,923 | INR 3,260 | INR 2,877 |
| INR 3,00,000 | INR 15,861 | INR 11,770 | INR 9,781 | INR 8,630 |
| INR 5,00,000 | INR 26,436 | INR 19,616 | INR 16,301 | INR 14,384 |
| INR 7,00,000 | INR 37,010 | INR 27,463 | INR 22,821 | INR 20,138 |
| INR 10,00,000 | INR 52,871 | INR 39,233 | INR 32,602 | INR 28,768 |
| INR 15,00,000 | INR 79,307 | INR 58,849 | INR 48,903 | INR 43,152 |
What is the EMI of a 7 lakh personal loan in Axis?
You can see the monthly EMI on a loan of INR 4 Lacs, INR 5 Lacs, INR 6 Lacs, and INR 7 lacs in the table below:-
| Loan Amount | ROI 10.25% (36 Months EMI) | ROI 10.25% (60 Months EMI) | ROI 21% (36 Months EMI) | ROI 21% (60 Months EMI) |
|---|---|---|---|---|
| INR 4 Lakhs | INR 12,954 p.m. | INR 8,548 p.m. | INR 15,070 p.m. | INR 10,821 p.m. |
| INR 5 Lakhs | INR 16,192 p.m. | INR 10,685 p.m | INR 18,838 p.m. | INR 13,527 p.m. |
| INR 6 Lakhs | INR 19,431 p.m | INR 12,822 p.m | INR 22,605 p.m. | INR 16,232 p.m. |
| INR 7 Lakhs | INR 22,669 p.m. | INR 14,959 p.m. | INR 26,373 p.m. | INR 18,937 p.m. |
What is the monthly EMI for a 10 lakhs Axis Bank personal loan?
You can see the monthly EMI on a loan of INR 8 Lacs, INR 9 Lacs, and INR 10 lacs in the table below:-
| Loan Amount | ROI 10.25% (36 Months EMI) | ROI 10.25% (60 Months EMI) | ROI 21% (36 Months EMI) | ROI 21% (60 Months EMI) |
|---|---|---|---|---|
| INR 8 Lakhs | INR 25,908 p.m. | INR 17,096 p.m. | INR 30,140 p.m. | INR 21,643 p.m. |
| INR 9 Lakhs | INR 29,146 p.m. | INR 19,233 p.m | INR 33,908 p.m. | INR 24,348 p.m |
| INR 10 Lakhs | INR 32,385 p.m. | INR 21,370 p.m. | INR 37,675 p.m. | INR 27,053 p.m |
What is the lowest EMI offered by Axis on Personal loans?
You can see the lowest EMIs on different loan amounts in the table below for a tenure of 5 years:-
| Interest Rate of 10.25% | Interest Rate of 21% |
|---|---|
| 1 Lakh Loan Amount - INR 2,137 p.m. | 1 Lakh Loan Amount - INR 2,705 p.m. |
| 3 Lakhs Loan Amount - INR 6,411 p.m. | 3 Lakhs Loan Amount - INR 8,116 p.m. |
| 5 Lakhs Loan Amount - INR 10,685 p.m. | 5 Lakhs Loan Amount - INR 13,527 p.m. |
| 7 Lakhs Loan Amount - INR 14,959 p.m. | 7 Lakhs Loan Amount - INR 18,937 p.m. |
| 9 Lakhs Loan Amount - INR 19,233 p.m. | 9 Lakhs Loan Amount - INR 24,348 p.m. |
Axis Bank Personal Loan Interest Rate
Before availing a loan, it is important that you should know personal loan interest rates. Currently, the bank is offering the credit at an interest rate of 10.49% - 21.00% per annum. With the help of knowing the same, it would be easier for you to compare the rates in order to grab the best deal. Make sure that the rates being offered by the lender should be attractive so that you can easily repay your loan with pocket-friendly EMIs, which in turn would reduce your overall loan burden.
Axis Bank Personal Loan Apply
When it comes to applying for an Axis Bank Personal Loan, there are two ways to do the same. You can either apply online by following a quick and easy process, wherein you just need to visit the bank website and enter your mobile and PAN number. And if you prefer offline, visit their nearest bank branch and submit the required documents.
Axis Bank Personal Loan Login
You can anytime check the real-time status of your Axis Bank personal loan by simply log in through Net Banking. With the help of this online facility, it is absolutely easy and a hassle-free process to check the credentials of your loan. In fact, you can also apply for a new personal loan from your Axis Bank account online. The best thing about this facility is that you can anytime login to your account and know the insights on the go.
Axis Bank Personal Loan Eligibility
Before you apply for Axis Bank personal loan, it is important that you should be aware of the eligibility criteria set by the bank. Each lender has its own eligibility norms which revolve around age, income, credit score, job stability, work experience and so on. So, if an applicant wants to avail an unsecured credit facility, he/she should meet up the same conditions so as to enjoy a smooth journey.
Frequently Asked Questions
1. How is Axis Bank Personal loan EMI calculated?
The EMI on the Axis Bank Personal Loan is calculated on the basis of Loan Amount, Interest Rate, and Tenure. If you increase the tenure of your personal loan then your EMI will get reduced.
2. How can I pay Axis bank Loan EMI?
A majority of people pay the Axis Bank Loan EMI through Auto-Debit Facility. You can also pay the EMI through cheques or visit the nearest branch and deposit the cash. NEFT, Axis Bank Net Banking, and Axis Bank Mobile application can also be used to pay the EMI of your loan.
3. What is the formula to calculate Personal loan EMI?
You can use the following formula to calculate the Axis Bank Personal Loan EMI manually:-
- EMI=P x R x (1+R)^n/((1+R)^n-1)
- P represents the Principal Amount.
- R represents the Rate of Interest Per month.
- Small “n” represents the tenure given by the bank.
4. What factor affects Axis Personal Loan EMI?
The following factors affect the Axis Bank Personal Loan EMI:-
- Interest Rate
- Loan Tenure
- Loan Amount
5. What is the best way to calculate EMI for an Axis Bank Loan?
The best way to calculate the EMI for an Axis Bank Loan is through the Axis Bank Personal Loan EMI calculator. Once you enter the loan amount, tenure, and interest rate, this tool will display the exact EMI according to the given details.