# IndusInd 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

## IndusInd Bank Loan Calculator Tool

### Highlights

• Use a loan EMI calculator to be double sure.
• Know your payments and be prepared accordingly.

The IndusInd Bank Personal Loan EMI Calculator is a powerful online tool designed to simplify the process of planning and managing personal loan repayments. This user-friendly calculator allows prospective borrowers to quickly and accurately determine their Equated Monthly Installments (EMIs). By providing instant results, the EMI calculator helps users make informed financial decisions, ensuring that their loan repayments fit comfortably within their budget.

## How to Use Wishfin IndusInd Bank Personal Loan Calculator?

Our personal loan EMI calculator is straightforward and easy to use. Here are the steps you can follow to calculate the EMI instantly:

• On our EMI calculator page, enter the loan details - loan amount, interest rate, and tenure.
• Once you input the data, the calculator will process the details and display the EMIs, along with the total interest outgoing, total payment amount, etc.
• You can also adjust the sliders to enter the details.

## What is the Formula Used to Calculate Personal Loan EMI?

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]where,

• EMI=Equated Monthly Installment
• P=Principal Loan Amount
• R=Monthly Interest Rate
• N=Number of Monthly Installments

Suppose you need a personal loan of Rs. 5,00,000 to pay for higher education. IDBI Bank offers this loan at an interest rate of 10% per annum, with a repayment period of 5 years.

To figure out your monthly payment, you can use the loan EMI formula:

• Principal Amount (P): Rs. 5,00,000
• Interest Rate (R): 10% per annum (which is 10/12/100 = 0.0083 per month)
• Loan Tenure (n): 5 years, or 60 months

Here’s how you calculate it:

EMI = (P x R x (1+R)n)/((1+R)n-1)

= (5,00,000 x 0.0083 x (1+0.0083) 60)/((1+0.0083)60-1)

= Rs. 11,748

This calculation shows your monthly installment will be Rs. 11,748.

## IndusInd 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 ₹ 39,557 ₹ 24,184 ₹ 63,741 ₹ 4,60,443
2025 ₹ 85,276 ₹ 42,206 ₹ 1,27,482 ₹ 3,75,167
2026 ₹ 94,206 ₹ 33,277 ₹ 1,27,482 ₹ 2,80,961
2027 ₹ 1,04,070 ₹ 23,412 ₹ 1,27,482 ₹ 1,76,890
2028 ₹ 1,14,968 ₹ 12,514 ₹ 1,27,482 ₹ 61,923
2029 ₹ 61,923 ₹ 1,819 ₹ 63,741 ₹ 0

## Lowest EMI Provided by IndusInd Bank on Personal Loans

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 IndusInd Bank personal loan interest rate of 10.99% to 16 % per annum.

IndusInd Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 10.99% per annum

You can have a look at the EMI amounts for a period of 2, 3, 4 and 5 years respectively for a loan amount ranging from 1 lakh to 15 lakh at an interest rate of 10.99% per annum.

Loan Amount 2 Years 3 Years 4 Years 5 Years
INR 1,00,000 INR 4,660 INR 3,273 INR 2,584 INR 2,174
INR 3,00,000 INR 26,513 INR 13,981 INR 7,752 INR 6,521
INR 5,00,000 INR 23,302 INR 16,367 INR 12,920 INR 10,869
INR 7,00,000 INR 32,622 INR 22,914 INR 18,088 INR 15,216
INR 10,00,000 INR 46,603 INR 32,734 INR 25,841 INR 21,737
INR 15,00,000 INR 69,905 INR 49,101 INR 38,761 INR 32,606

IndusInd Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 16.00% per annum

You can have a look at the EMI amounts for a period of 2, 3, 4 and 5 years respectively for a loan amount ranging from 1 lakh to 15 lakh at an interest rate of 16% per annum.

Amount (in ₹) 2 Years 3 Years 4 Years 5 Years
1,00,000 ₹ 4,896 ₹ 3,516 ₹ 2,834 ₹ 2,432
3,00,000 ₹ 14,689 ₹ 10,547 ₹ 8,502 ₹ 7,295
5,00,000 ₹ 24,482 ₹ 17,579 ₹ 14,170 ₹ 12,159
7,00,000 ₹ 34,274 ₹ 24,610 ₹ 19,838 ₹ 17,023
10,00,000 ₹ 48,963 ₹ 35,157 ₹ 28,340 ₹ 24,318
15,00,000 ₹ 73,445 ₹ 52,736 ₹ 73,445 ₹ 36,477

## Advantages of Using IndusInd Bank EMI Calculator

Utilizing the IndusInd Bank loan calculator offers several advantages, which are as follows:

1. Quick Calculations : Instantly find out your monthly payments, which helps in planning your loan and budget effectively.
2. Budget Management : Knowing your monthly EMI in advance allows you to manage your finances better, ensuring you can meet your loan repayment comfortably without disrupting your other financial commitments.
3. Saves Time : Avoids the hassle and errors of manual calculations. With just a few clicks, you get accurate EMI amounts, saving you time and effort.
4. Helps in Decision Making : By inputting different variables, such as loan amount, interest rate, andAdvantages of Using IndusInd Bank Personal Loan EMI Calculator tenure, you can compare various loan scenarios. This helps you choose a loan that best fits your financial situation.
5. Transparency : Provides a clear breakdown of your repayment schedule, showing how much of your EMI goes towards the principal and how much towards the interest. This transparency helps in understanding the loan structure better.
6. Convenient and Accessible : Available online, the calculator can be used from anywhere, allowing you to plan your loan application and management at your convenience.

## IndusInd Bank Personal Loan Eligibility Criteria

Here’s the eligibility criteria that an applicant will have to meet to borrow a personal loan from IndusInd Bank:

Salaried Employees

• Age : 21 to 60 years
• Income : Rs. 25,000 per month
• Work Experience : 2 years total, with at least 1 year at the current organization
• Residential Status : Must have lived at the current residence for at least 1 year

Self-Employed Professionals

• Age : 25 to 65 years
• Income : Rs. 4.8 lakh per annum
• Work Experience : 4 years
• Residential Status : No specific requirement

Self-Employed Individuals

• Age : 25 to 65 years
• Income : Rs. 4.8 lakh per annum
• Work Experience : 5 years
• Residential Status : No specific requirement

## Factors that Influence IndusInd Bank Personal Loan EMI

Let’s dive into the key factors that play a major role in deciding the EMI amount you will be required to pay each month:

• Loan Amount: The principal amount you borrow from IDBI Bank directly impacts your EMI. Generally, a higher loan amount means you will have to pay higher EMIs.
• Interest Rate: The interest rate offered by IDBI Bank also plays a critical role in determining the EMIs. A higher interest rate means higher EMIs. On the other hand, a lower interest suggests lower EMIs.
• Loan Tenure: The repayment period or tenure of the loan affects the EMI. A longer tenure typically results in lower EMIs, while a shorter tenure leads to higher EMIs.
• Income: Your income level influences the loan amount you are eligible for. This, in turn, affects the EMI. Higher income may allow for a larger amount and potentially higher EMIs.
• Credit Score: Your credit history and credit score can impact the interest rate offered by IDBI Bank. A better credit score may lead to more favorable interest rates, potentially lowering your EMI.
• Existing Debts & Financial Obligations: Any existing loans or credit card debts you have may influence the loan amount you're eligible for, which in turn affects the EMI.
• Type of Employment: Whether you're a salaried employee, self-employed professional, or pensioner can impact the loan terms and consequently the EMI.

## IndusInd Bank Personal Loan Fees & Charges

Here are the fees and charges applicable to personal loan offered by IndusInd Bank:

Fee Type

Details

Processing Fees

1% of the loan amount + applicable taxes

Pre-closure Charges

2% + applicable taxes. After 6 months the charges are NIL.

Default in payment through cheques, ECS, or any other allowed payment mode

Rs. 300

Penal Interest

4% p.a. on overdue amount and overdue period

## Limitations of IndusInd Bank Personal Loan Calculator

Here are a few disadvantages of using a personal loan calculator of IndusInd Bank:

• Indicative Results: The calculator provides estimated EMI amounts that may vary from actual figures. The results are indicative in nature and not guaranteed.
• Limited Factors Considered: It typically only takes into account basic factors like loan amount, interest rate, and tenure. It may not consider other variables that could affect the actual loan terms.
• Eligibility Not Determined : It does not guarantee your loan eligibility or approval. It only provides estimates based on inputs.
• Exclusion of Additional Charges: The EMI calculation typically does not include processing fees, insurance premiums, or other charges that may be applicable to the actual loan.
• No Consideration of Credit Score: The calculator does not take into account your credit score, which can significantly impact the actual interest rate offered by the bank.