EMI Calculator 1237 views
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:
- Interest Rate
- Loan Amount
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.
|Monthly Instalment (EMI)|
|Total Interest Amount|
|Total Amount (Principal + Interest)|
Below is a table showing tenure wise calculation of per lakh EMI
|Tenure (in years)||Interest Rate (in p.a.)||Per Lakh EMI (in ₹)|
Table of Contents
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 15.50% per annum for a tenure of 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 EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Total Interest Amount
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
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]
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
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 15.50%-24% 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.
Axis Bank Personal Loan Apply
When it comes to applying for 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 a reliable site like Wishfin that helps in comparing and grabbing the best deal. While on the other hand, you can also opt to apply by visiting the bank itself. You just need to go the branch nearest to your location and submitting the required documents so as to apply for a personal loan.