Personal Loan Calculator5230 views
- Know your payments in advance with personal loan EMI calculator.
- Apply for a personal loan at HSBC Bank available at low-interest rates.
Whenever you are taking a loan, it is very important that you choose the tenure for which you can pay the EMI very easily. At HSBC Bank, personal loans are offered for the maximum tenure of 5 years wherein you have the choice to select the tenure that suitable for you. Below is the representation of EMI and other payment details for a default value on a personal loan. You can calculate EMI as per your requirement to see how much you will have to pay if you take a personal loan from HSBC Bank.
Loan Amount Interest Rate Tenure(Months) Monthly Instalment (EMI) Total Interest Amount Total Amount (Principal + Interest) Year Principal Interest Balance Amount
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HSBC Bank Personal Loan EMI Calculator
A loan EMI calculator is the tool used worldwide for the calculation of monthly installments. This calculator also shows total repayment amount you are liable to pay on the loan along with the total interest. If you know about the payments in advance, it is easier for you to be prepared accordingly and also manage your other financial responsibilities. Read more to know your personal loan EMI.
How can you calculate personal loan EMI yourself?
Have a look at the below-given table wherein you can see the monthly EMI on a personal loan if you requirement is as mentioned here. The calculator takes into account the interest rate on a personal loan and tenure.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 3,00,000 11.29% 1 ₹ 26,555 ₹ 18,661 ₹ 3,18,661 ₹ 3,00,000 11.29% 2 ₹ 14,023 ₹ 36,547 ₹ 3,36,547 ₹ 3,00,000 11.29% 3 ₹ 9863 ₹ 55,063 ₹ 3,55,063 ₹ 3,00,000 11.29% 4 ₹ 7796 ₹ 74,207 ₹ 3,74,207 ₹ 3,00,000 11.29% 5 ₹ 6566 ₹ 93,972 ₹ 3,93,972 Year Principal Interest Balance Amount 1 ₹ 47,323 ₹ 31,471 ₹ 2,52,676 2 ₹ 52,951 ₹ 25,843 ₹ 1,99,724 3 ₹ 59,249 ₹ 19,545 ₹ 1,40,475 4 ₹ 66,295 ₹ 12,499 ₹ 74,180 5 ₹ 74,241 ₹ 4614 ₹ 0
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
What is the formula used for EMI calculation?
The calculation in the EMI calculator is done through the below-given 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