Indian Bank Personal Loan EMI Calculator

Highlights

  • How to use Indian Bank Personal Loan EMI Calculator efficiently?
  • Know about all the important details that you will need to have to calculate the monthly installments!

Indian Bank provides one of the best personal loans to the customers who are in need of instant funds. You can easily get the loan amount from Indian Bank and repay it within the chosen tenure via EMIs.

EMI Calculator for Personal Loan
Loan Amount (₹)
Interest Rate (%)
Tenure (Month)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

Are you worried about what will be the Equated Monthly Installment (EMI) that you have to pay every month to pay off the Indian Bank Personal Loan? Well, you must not worry about this problem as you can estimate this repayment amount with the help of the Indian Bank Personal Loan EMI Calculator. This is an amazing tool that helps you know the EMI amount in advance so that you can manage your finances better. If you want to know more about this efficient tool, don’t stop reading!

Indian Bank Personal Loan Interest Rates

Indian Bank provides affordable interest rates because of which this loan option is so much popular among individuals. Indian Bank Interest rates range from 9.60% - 10.20% per annum. You can know all other details related to the Indian bank Personal Loan Interest rate. Have a glance!

ParticularsDetails
Interest Rates9.60% - 10.20%
Loan Amount20 Times Monthly Income
TenureUpto 84 months
Processing Fees0.51% of the loan amount, subject to a minimum of INR 512
Prepayment ChargesNil

How to Use the Indian Bank Personal Loan EMI Calculator?

You must be wondering about the details that you will need to use to have an estimate of the EMI amount on your personal loan? Well, the most amazing thing about the Indian Bank EMI Calculator is the ease and accessibility with which any individual can know the EMI amount he/she will need to pay every month. And not only this, but you can also know about the Interest Outgo and Total Amount payable on your loan.

There are three basic things that you will need to feed in the calculator — Required Loan Amount, Rate of Interest and Tenure. We are providing details about all of them below. Take a look!

Required Loan Amount

Indian Bank Personal Loan can be offered to the maximum extent of 20 times your monthly income. So, the higher your monthly income will be, the higher could be the loan amount. This is the first thing that you need to fill in the Indian Bank Personal Loan EMI Calculator.

Rate of Interest

This is the second and most important thing that you will need to put in the calculator. Your EMI amount directly depends on the rate of interest charged by the lender on your personal loan. That’s why individuals like to prefer a personal loan with low interest rates. Indian Bank Personal Loan Interest rates range from 9.60% - 10.20% per annum. The eventual rate will depend on several factors such as age, employment type, job history, monthly income, CIBIL Score, etc.

Required Tenure

Tenure is the third and last thing that you will need to fill in the EMI calculator. Indian Bank provides a flexible and long tenure of 84 months within which you can repay the loan amount in easy installments. You can choose according to your repayment capacity and income that you earn monthly. Choose the tenure within which you will be able to pay off the loan amount.

As soon as you will feed all these details in the Indian Bank Personal Loan EMI Calculator, the tool will give you the approximate EMI amount that you will need to pay every month. You will also get to see the total interest outgo and total amount payable during this period. You can use the calculator for as many times as you want with different values.

Indian Bank Personal Loan EMI Calculator Details

In the below tables, you can have a look at the EMI amount for different loan amounts at the end of different periods at an Indian Bank personal loan interest rate of 9.60% - 10.20% per annum.

Indian Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 9.60% per annum

You can look at the EMI amounts for a period of 2, 3, 4, and 5 years respectively for a loan amount ranging from INR 1 lakh to INR 15 lakh at an interest rate of 9.60% per annum.

Amount2 Years3 Years4 Years5 Years
INR 1,00,000INR 4,596INR 3,208INR 2,517INR 2,105
INR 3,00,000INR 13,788INR 9,624INR 7,551INR 6,315
INR 5,00,000INR 22,980INR 16,040INR 12,585INR 10,525
INR 7,00,000INR 32,172INR 22,456INR 17,620INR 14,736
INR 10,00,000INR 45,961INR 32,080INR 25,171INR 21,051
INR 15,00,000INR 68,941INR 48,120INR 37,756INR 31,576

Indian Bank Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 14.05% per annum

Look at the EMI amounts for a period of 2, 3, 4, and 5 years respectively for a loan amount ranging from INR 1 lakh to INR 15 lakh at an interest rate of 14.05% per annum.

Amount2 Years3 Years4 Years5 Years
INR 1,00,000INR 4,804INR 3,420INR 2,735INR 2,329
INR 3,00,000INR 14,411INR 10,261INR 8,205INR 6,988
INR 5,00,000INR 24,018INR 17,101INR 13,6760INR 11,647
INR 7,00,000INR 33,626INR 23,941INR 19,146INR 16,306
INR 10,00,000INR 48,037INR 34,202INR 27,352INR 23,294
INR 15,00,000INR 72,055INR 51,303INR 41,027INR 34,941

Indian Bank Personal Loan EMI Calculation Formulae

If you want to know about the formula on which the EMI Calculator functions then you can look below to do so.

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

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