Personal Loan EMI Calculator12457 views
Highlights
- Know the Exact Calculations of EMIs with an ICICI Personal Loan EMI Calculator
- This Online Tool is 24x7 Available That Helps You to Take a Calculative Decision
Want to avail a personal loan but don’t know what would be the exact calculation of your monthly installments? Well, all your confusions will come to an end with the ICICI Personal Loan EMI Calculator. Yes, this smart online tool helps you in taking a calculative decision by giving you a quick access to your future EMIs. Know more about this magical device below.
Loan Amount Interest Rate Tenure(Months) Monthly Instalment (EMI) Total Interest Amount Total Amount (Principal + Interest) Year Principal Interest Balance Amount
An EMI calculator is one such magical tool which is used to calculate the Equated Monthly Installment (EMI). Talking about an EMI, it is a fixed payment amount that a person is liable to pay to the lender every month. Equated monthly installments are used to pay off both the sum of the interest and principal each month. An ICICI personal loan EMI calculator takes into account the below credentials:
- Loan Amount
- Tenure
- Rate of Interest
On the basis of these details, the calculator will give you the result of EMI, total interest outgo and total amount. It is easy to understand the exact calculation with the help of graphical representation available online.
Below is a table showing ICICI personal loan interest rate & tenure wise per lakh EMI calculation
| Tenure (in years) | Interest Rate (in p.a.) | Per Lakh EMI (in ₹) |
|---|---|---|
| 1 | 10.99%-18.49% | 8,838-9,191 |
| 2 | 10.99%-18.49% | 4,660-5,016 |
| 3 | 10.99%-18.49% | 3,273-3,640 |
| 4 | 10.99%-18.49% | 2,584-2,963 |
| 5 | 10.99%-18.49% | 2,174-2,566 |
Table of Contents
Personal Loan EMI Calculator
To make you understand the concept of personal loan EMI calculator online here is an example. A person is looking for a personal loan for ₹5 lakhs and has chosen the repayment period of 5 years, ICICI bank offered him the loan amount at an interest of 10.99% per annum. Now, the below table showing how much is this person going to pay to the bank in the form of EMI and the total interest outgo for the loan amount he has taken.
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 ₹ 5,00,000 10.99% 1 ₹ 44,188 ₹ 30,262 ₹ 5,30,262 ₹ 5,00,000 10.99% 2 ₹ 23,302 ₹ 59,238 ₹ 5,59,238 ₹ 5,00,000 10.99% 3 ₹ 16,367 ₹ 89,212 ₹ 5,89,212 ₹ 5,00,000 10.99% 4 ₹ 12,920 ₹ 1,20,176 ₹ 6,20,176 ₹ 5,00,000 10.99% 5 ₹ 10,869 ₹ 1,52,123 ₹ 6,52,123 Year Principal Interest Balance Amount 1 ₹ 79,394 ₹ 51,030 ₹ 4,20,605 2 ₹ 88,573 ₹ 41,851 ₹ 3,32,031 3 ₹ 98,813 ₹ 31,611 ₹ 2,33,218 4 ₹ 1,10,237 ₹ 20,188 ₹ 1,22,981 5 ₹ 1,23,079 ₹ 7443 ₹ 0
ICICI Personal Loan Status
Now it is no more a hassle for you to know the real-time status of your ICICI personal loan. All you need to do is just simply login to the account using your credentials. Visit the website and enter your loan application number and click on the submit button. The moment you enter these credentials online, you can easily see the actual status, whether its approved, pending or rejected. Knowing all this and much more is now at your fingertips because with this online facility everything is easy and hassle-free.
ICICI Personal Loan Interest Rate
When it comes to availing a personal loan, there is no denying the fact that interest rate is one of the most vital factors that one should consider. Currently, the lender is offering the personal credit facility at an interest rate of 10.99%-18.49% per annum, which is also the lowest rate in the market. The rates are attractive which also helps in lowering your EMI and Interest burden in the future. This is the reason that why people are always curious to know about the rates as they play an influential role in the overall loan journey.
ICICI Personal Loan Eligibility
If you want to apply for a personal loan in ICICI, it is important for you to know that without meeting the eligibility norms it won’t be possible. That’s Right! Different banks have their own eligibility norms and it is important for a borrower to fulfill the same in order to enjoy a hassle-free loan journey. Talking about eligibility, the bank offers loan to both salaried as well as self-employed individuals. But plenty of other factors such as age, income, credit score, job stability, work experience and employment type also come into the picture. Soon after judging an applicant on these parameters, ICICI offers this unsecured credit facility to one and all in order to fulfill their varied needs.
Here are the parameters on the basis of which the personal loan EMI is calculated.
Parameters on which Personal Loan EMI is calculated
Here are the parameters based on which personal loan EMI is calculated:
Loan Amount: The first and most important thing to know when it comes to calculating EMIs is the loan amount. EMI is directly dependent on the loan amount which varies from applicant to another on the basis of the personal loan eligibility. For a better financial planning, the EMIs should not exceed more than 50% of the savings.
Interest Rate: Be it any loan, the interest rate that a person will be offered on the money borrowed. The rate offered to you at the time of application is the annual interest rate but the EMI is calculated on the basis of the monthly interest rate. Thus, the calculator will divide the annual interest rate by 12 and then do the calculations.
Tenure: The longer the tenure, the easier it is for the debtor to repay the fund. At ICICI Bank, the tenure is up to 5 years which gives you the option to choose the flexible repayment that allows you to enjoy pocket-friendly EMIs and Interest Outgo.
ICICI Personal Loan Contact Number
In order to get in touch with the customer care executives of ICICI, all you need to do is just dial 1800 200 3344 either from your mobile or landline. You can call on this number from Monday to Friday between 9 a.m. to 6 p.m.These experts with their friendly nature and experience ensure to solve all your worries. These professionals with having the expert skills listen to all your problems and give you the best solutions with proper guidance so that you can have a hassle-free journey.
Personal Loan Eligibility Calculator
With the help of using an eligibility calculator, you would be able to know the exact and accurate loan amount you can actually avail from a lender. This device after taking into account-Loan Amount, Income and Other Monthly Expenses allow you to know the actual loan amount that you can get from a lender based on your eligibility. With the help of knowing the same, you would be able to plan your loan accordingly.
