- How to use the Clix Personal Loan EMI Calculator?
- How does it help calculate the EMI and Interest Outgo on your loan? Let’s check out!
Clix Capital is one of the prominent lenders of our country that provides personal loans to customers in a faster and simpler way. Any individual can fulfill any of his or her financial needs with the loan amount. People will get a fixed period (tenure) to repay the loan amount with the help of Equated Monthly Installments (EMIs).
But there is an important question that a lot of individuals ask before getting a Clix Capital Personal Loan – What will be the EMI amount that they need to pay every month? Don’t worry, you can use this efficient tool known as the Clix Capital Personal Loan EMI Calculator. This tool will help you in having an early estimate of the EMI amount. So, how will this early estimate help you? Well, you can manage your finances better and prepare accordingly for the EMI amount. We will be covering everything related to the Clix Capital Personal Loan EMI Calculator, so don’t stop reading.
|Monthly Instalment (EMI)|
|Total Interest Amount|
|Total Amount (Principal + Interest)|
Table of Contents
Clix Capital Personal Loan Interest Rates April 2021
Clix Capital Personal Loan Interest Rates directly affect your repayment amount and that’s why you need to keep a close eye on this. However, interest rates tend to change from one individual to another based on several factors such as monthly income, credit score, existing obligations, employment type, job history, etc. Clix Capital will decide the final rate of interest for an individual after going through these details. We are providing some of the important details related to the Clix Capital Personal Loan Interest Rate. Check them out!
|Minimum Loan Amount||INR 1 lakh|
|Maximum Loan Amount||INR 25 lakh|
|Rate of Interest||Customized (Depends on overall profile)|
|Tenure||12 to 60 months|
|Repayment Methods||Equated Monthly Instalments (EMI)|
|Prepayment Charges||As applicable (depends on the prepayment amount)|
How to Use the Clix Capital Personal Loan EMI Calculator?
The first thing that we want to tell you that anyone can use the Clix Capital personal loan EMI calculator without any trouble. But what is the exact process by which you can have an estimate about the EMI amount you will pay every month? Well, this tool is quite accessible and you will only need a few basic details to know the EMI amount, the Interest Outgo and Total amount payable.
The details that will be needed are – Required Loan Amount, Interest Rate and Tenure. When you feed all these three details into the calculator, you will get the results. If you are dissatisfied with the results, you can use the tool with different values so that you can get the results that fit your requirement. To know about each of them in detail, keep reading!
Required Loan Amount
When you decide to opt for a personal loan to fulfill your financial needs, there is a certain amount that you have in your mind. This is known as the required loan amount. With the help of Clix Capital Personal Loan, you can get the loan amount as low as INR 1 lakh and as high as INR 25 lakh as you can see in the table mentioned above too. Though the final loan amount will depend on your overall profile and repayment capacity. This is the first thing that you will need to put in the Clix Capital Personal Loan EMI Calculator.
Rate of Interest
Each borrower wants to opt for a personal loan with low interest rates so that he or she will need to pay a lower EMI amount every month. The reason behind this is your interest rates directly affect the repayment amount. The higher the interest rates, the higher will be the EMI amount and vice versa. Clix Capital Personal Loan Interest Rates are customized and depend on numerous factors as we mentioned above.
As you know that Clix Capital allows you to choose the repayment tenure according to your convenience and repayment capacity. It ranges from a minimum of 12 months to a maximum of 60 months. On choosing a shorter tenure, you will need to pay a higher EMI amount and lower interest amount whereas, if you choose a long tenure, the EMI amount will be lower and interest amount will be higher. This is the third and last thing that you need to put in the Personal Loan EMI Calculator.
Clix Capital Personal Loan EMI Calculator Details
To have more understanding about the Clix Capital personal loan EMI calculator, we are showing you the EMI amount for different loan amounts at different periods. The interest rates we are taking here are 11.50% and 16.50% per annum. You can check the below tables.
Clix Capital Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 11.50% per annum
Here, we are showing the EMI amounts for a period of 2, 3, 4 and 5 years respectively for the loan amount ranging from INR 1 lakh to INR 15 lakh. The interest rate is 11.50% per annum. Please check it.
|Loan Amount||2 years||3 years||4 years||5 years|
|INR 1,00,000||INR 4,684||INR 3,298||INR 2,609||INR 2,199|
|INR 3,00,000||INR 14,052||INR 9,893||INR 7,827||INR 6,598|
|INR 5,00,000||INR 23,420||INR 16,488||INR 13,045||INR 10,996|
|INR 7,00,000||INR 32,788||INR 23,083||INR 18,262||INR 15,395|
|INR 10,00,000||INR 46,840||INR 32,976||INR 26,089||INR 21,993|
|INR 15,00,000||INR 70,260||INR 49,464||INR 39,134||INR 32,989|
Clix Capital Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 16.50% per annum
Here, we are showing the EMI amounts for a period of 2, 3, 4 and 5 years respectively for the loan amount ranging from INR 1 lakh to INR 15 lakh. The interest rate is 16.50% per annum. See it below.
|Loan Amount||2 years||3 years||4 years||5 years|
|INR 1,00,000||INR 4,920||INR 3,540||INR 2,860||INR 2,458|
|INR 3,00,000||INR 14,761||INR 10,621||INR 8,579||INR 7,375|
|INR 5,00,000||INR 24,601||INR 17,702||INR 14,299||INR 12,292|
|INR 7,00,000||INR 34,442||INR 24,783||INR 20,018||INR 17,209|
|INR 10,00,000||INR 49,202||INR 35,404||INR 28,597||INR 24,585|
|INR 15,00,000||INR 73,804||INR 53,107||INR 42,896||INR 36,877|
Clix Capital Personal Loan EMI Calculation Formulae
Do you want to know about the formulae on which the Clix Capital Personal Loan EMI Calculator functions?. You can get the results manually by putting the values into this. But that could be a long and complex process. So, it will be better to use the calculator. Nonetheless, we are showing the formulae below. Have a look.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
EMI = Equated Monthly Installments
P = Principal Loan Amount
R = Rate of Interest
N = Number of monthly installments