Axis Bank Personal Loan EMI Calculator

Highlights

  • Use Axis Bank personal loan EMI Calculator to know the exact calculations of your EMIs
  • This online tool is 24x7 available that helps you in taking a calculative decision

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:

  • Interest Rate
  • Tenure
  • 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.

EMI Calculator forPersonal Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

Below is a table showing tenure wise calculation of per lakh EMI 

Tenure (in years)Interest Rate (in p.a.)Per Lakh EMI (in ₹)
115.75%-24%9,061-9,456
215.75%-24%4,884-5,287
315.75%-24% 3,503-3,923
415.75%-24%2,821-3,260
515.75%-24%2,419-2,877

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 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

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 2,00,00015.75%1₹ 18,123₹ 17,470₹ 2,17,470
₹ 2,00,00015.75%2₹ 9769₹ 34,450₹ 2,34,450
₹ 2,00,00015.75%3₹ 7007₹ 52,243₹ 2,52,243
₹ 2,00,00015.75%4₹ 5642₹ 70,839₹ 2,70,839
₹ 2,00,00015.75%5₹ 4837₹ 90,225₹ 2,90,225

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

YearPrincipalInterestBalance 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 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 15.75%-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. 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 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.

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.

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