# DCB Bank Personal Loan EMI Calculator

₹ 50k ₹ 50L
6.0% 30.0%
6 months 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Month)

Total Amount

## 2024

Month Principal Paid Interest Charged Total Payment Balance
Aug ₹3,942.44 ₹500.00 ₹4,442.44 ₹46,057.56
Sept ₹3,981.86 ₹460.58 ₹4,442.44 ₹42,075.70
Oct ₹4,021.68 ₹420.76 ₹4,442.44 ₹38,054.01
Nov ₹4,061.90 ₹380.54 ₹4,442.44 ₹33,992.11
Dec ₹4,102.52 ₹339.92 ₹4,442.44 ₹29,889.60

## DCB Bank Loan Calculator Tool

### Highlights

• Don’t know what the EMI is going to be on the DCB Bank Personal Loan?

Calculating your EMIs is now simple and quick with the DCB Personal Loan EMI Calculator. This online tool takes the hassle out of complex calculations, providing you with instant results. Just enter your loan details, and in seconds, you'll know your monthly payments and total interest. It's a convenient way to manage your finances and plan your budget effectively.

## How to Use Wishfin DCB Bank Personal Loan EMI Calculator?

The calculator helps an individual know his/her EMI before the loan sanction. You just need to insert a few details to generate the approximate EMI for the borrowed loan. These details are the principal amount, interest rate and repayment tenure. Once you enter the details, you will get the results in a few seconds. Also, the tool is free to use and available 24*7.

Example of DCB Bank Personal Loan EMI Calculation

If you are curious to know about the calculator, you should first know the formula that it uses to provide you repayment estimates. Let’s be told it uses a mathematical expression to give you the EMI.

The formula is [P x R x (1+R)^N]/[(1+R)^N-1] where,
P=Principal Loan Amount
R=Monthly Interest Rate
N=Number of Monthly Installments

Suppose Nidhi Aggarwal, a 25-year-old Senior Manager, works in a reputed company and needs a personal loan of INR 5 Lakh to renovate the home. She has applied to avail the same loan amount and the bank has approved it at an interest rate of 11.80% per annum for a tenure of 5 years. But Nidhi wants to be fully sure about the EMIs, whether they would be pocket-friendly or not? Thus, she uses the DCB Bank Personal Loan EMI Calculator to find the answer to the same. So, let’s take a look at the table below and know what happens when Nidhi calculates the EMI.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 5,00,000 11.80% 1 ₹ 44,378 ₹ 32,532 ₹ 5,32,532
₹ 5,00,000 11.80% 2 ₹ 23,490 ₹ 63,762 ₹ 5,63,762
₹ 5,00,000 11.80% 3 ₹ 16,559 ₹ 96,140 ₹ 5,96,140
₹ 5,00,000 11.80% 4 ₹ 13,118 ₹ 1,29,658 ₹ 6,29,658
₹ 5,00,000 11.80% 5 ₹ 11,072 ₹ 1,64,305 ₹ 6,64,305

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

YEAR PRINCIPAL INTEREST BALANCE AMOUNT
1 ₹ 77,989 ₹ 54,871 ₹ 4,22,010
2 ₹ 87,706 ₹ 45,154 ₹ 3,34,303
3 ₹ 98,634 ₹ 34,226 ₹ 2,35,668
4 ₹ 1,10,924 ₹ 21,937 ₹ 1,24,744
5 ₹ 1,24,852 ₹ 8116 ₹ 0

## DCB Bank Personal Loan EMI Calculator Formula

As already mentioned above, the calculator takes into account the below formula to provide EMI calculation:

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

If the principal amount is ₹ 4.5 lakhs with an interest rate of 15% and a tenure of 4 years, the EMI will be calculated as follows:

• Principal Amount (P): ₹4,50,000
• Interest Rate (R): 15% per annum (which is 0.15 per month)
• Loan Tenure (n): 4 years, or 48 months

[4,50,000 x 0.15 x (1 + 0.15) ^ 48]/[(1+0.15) ^48 -1] = 12523.84

The EMIs you will be required to pay is ₹ 12523.84

## DCB Bank Personal Loan Amortisation Schedule

Here is the amortization schedule for the example provided above, to assist you further:

Year Principal Interest Total Payment Balance
2024 ₹ 42,708 ₹ 32,435 ₹ 75,143 ₹ 4,07,292
2025 ₹ 95,587 ₹ 54,699 ₹ 1,50,286 ₹ 3,11,705
2026 ₹ 1,10,953 ₹ 39,333 ₹ 1,50,286 ₹ 2,00,751
2027 ₹ 1,28,789 ₹ 21,497 ₹ 1,50,286 ₹ 71,962
2028 ₹ 71,962 ₹ 3,181 ₹ 75,143 ₹ 0

## What is the EMI of a 1 Lakh Personal Loan in DCB Bank?

Below, we have calculated the EMI for a 1 lakh DCB Bank personal loan over a tenure of 5 years. This calculation is based on the lowest and highest interest rates charged by DCB Bank on their personal loans.

Year Monthly EMI @13%p.a Monthly EMI @25% p.a
1 ₹8931.73 ₹9504.42
2 ₹4754.18 ₹5337.15
3 ₹3369.40 ₹3975.98
4 ₹2682.75 ₹3315.71
5 ₹2275.31 ₹2935.13

## The Lowest EMI Offered by DCB Bank on Personal Loans

Here are the EMIs for various loan amounts with DCB Personal Loans, calculated over a five-year term at interest rates of 13% and 25%

Interest Rate of 13%

Interest Rate of 25%

1 lakh loan amount - ₹2,275.31 p.m.

1 lakh loan amount -  ₹2,935.13 p.m.

3 lakh loan amount - ₹6,825.92 p.m.

3 lakh loan amount -  ₹8,805.4 p.m.

5 lakh loan amount - ₹11,376.54 p.m.

5 lakh loan amount -  ₹14,675.66 p.m.

7 lakh loan amount - ₹15,927.15 p.m.

7 lakh loan amount - ₹20,545.93 p.m.

9 lakh loan amount - ₹20,477.77 p.m.

9 lakh loan amount -  ₹26,416.19 p.m.

## Advantages of Using DCB Bank Personal Loan EMI Calculator

Here are the main benefits of using DCB bank personal loan EMI calculator:

• Quick calculations: Instantly find out your monthly EMI payments with just a few clicks. This tool allows you to enter different loan amounts, interest rates, and tenures to see how each change affects your payments.
• Financial clarity: The EMI calculator helps you understand exactly how much you will need to budget each month towards your loan repayment. This makes it easier to manage your finances without any surprises.
• Flexible scenarios: Experiment with different scenarios by adjusting the loan parameters. This feature is particularly useful for finding a loan amount and tenure that fits your repayment capacity.
• Saves time: Avoid the hassle and time it takes to manually calculate your EMIs. The EMI calculator offers a fast, accurate, and stress-free alternative to understand your loan options better.

## Eligibility Criteria to Apply for DCB Personal Loan

If you want to apply for DCB personal loan, you need to meet the following eligibility criteria:

• You need to be a salaried employee working with a private or public limited company, a government entity, an MNC, or a well-known partnership firm.
• You should be at least 25 years old at the time of applying for the loan, and not more than 60 years at the time the loan matures.
• You must have a consistent employment history, having been employed for at least the last three years.
• To secure a personal loan from DCB Bank, you are required to provide two references. These can be from colleagues or friends but must not be blood relatives or individuals residing at the same address.

## Factors Affecting DCB Personal Loan EMI

When you decide to take out a personal loan from DCB, it's important to understand the factors that will influence your monthly installment (EMI). Here’s what you need to consider:

• Loan amount: This is the principal amount you borrow. Naturally, the more you borrow, the higher your monthly payment will be.
• Interest rate: This is the rate at which interest accrues on your loan. A higher interest rate increases your monthly EMI.
• Loan term: This refers to the duration over which you will repay the loan. Spreading your payments over a longer term reduces each monthly installment.
• Repayment schedule: This outlines the timeline for your repayments. A more extended repayment period can also reduce your monthly EMI.

## Fees and Charges Associated with DCB Bank Personal Loans

Here are the charges and fees levied on personal loans offered by DCB Bank:

Particulars

Fee

Loan processing fee

2% -3% of loan amount + GST

Prepayment charge

5% of the outstanding loan amount

Penal interest

3% p.m. of the irregular or overdue amount on account of delay in payment of interest / repayment of loan amount

Cheque/ECS swap charge

Rs.500 per event

Cheque bounce charge

Rs.750 per event

Collection charges

If you don't repay your loan on time, the Bank will charge you 'Collection Charges.' You'll pay Rs. 100 plus taxes for each call and Rs. 250 plus taxes for each visit made to collect the debt. You are responsible for these costs, which the Bank can change at any time.

### The Key Disadvantages of Utilizing DCB Bank Personal Loan EMI Calculator

Here are some potential disadvantages of using the DCB Bank Personal Loan EMI Calculator:

• Accuracy: The calculator provides estimates that may not include all applicable fees and charges, potentially leading to discrepancies between the estimated and actual EMIs.
• Simplicity: While user-friendly, it might oversimplify calculations, not accounting for variables like insurance or fluctuating interest rates that could impact the total cost of the loan.
• Customization Limits: The tool may not allow users to factor in specific financial situations or adjust for unique repayment options that could influence the loan's terms.
• Dependence on User Input: The accuracy of the results heavily relies on the accuracy of the input data. Incorrect inputs can lead to misleading outputs.
• Static Projections: The calculator might not accurately predict future changes in interest rates or financial circumstances, which can affect loan affordability.
• Over-reliance: Users might rely solely on this tool for financial decisions, overlooking other essential financial planning aspects.