Karur Vysya Bank Personal Loan EMI Calculator

Highlights

  • Get an Idea of Your Repayment Future with EMI Calculator
  • Apply for KVB Personal Loan Online

About Karur Vysya Bank Personal Loan EMI Calculator

Planning a Karur Vysya Bank Personal Loan to fly off to the chilly locales of Europe? So to make your plan a grand success, not only the interest rates but even the resultant EMIs have to be lower. After a negotiation with the lender for lower rates, the focus shifts to calculating the EMI on a proposed loan. To do the same, the Personal Loan EMI Calculator is ready with its in-built algorithms and certified mechanisms. Why not then read more about the calculator?

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

What is EMI?

Abbreviated for Equated Monthly Installments, EMIs constitute portions of both principal and interest repayments of a loan to be paid over the tenure of a loan. Needless to say, higher the rates greater will be the EMI and vice-versa. But it’s not only the interest rates that dictate the figure of EMI but also the loan amount and tenure. The proposed EMI must be within 20%-30% of your net monthly income.

EMI Calculation Formula

Strong in mathematics? Find the proposed EMI by using the formula below.

E = P . R . (1+R)^N/((1+R)^N – 1),

Where E = EMI
P = Principal Loan Amount
R = Rate of Interest
N = Monthly Loan Tenure

Well, the formula may not be easy for most to solve. So, an example below will ease out the calculation for you.

Example – Harish Munjal applied for a personal loan worth 5 lakh at Karur Vysya Bank (KVB). The bank approves the application and offered the loan at an interest rate of 13.50%, based on his eligibility, for 5 years. Let’s check out the likely EMI and interest repayments.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

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

Year Principal Interest Balance Amount

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EMI Calculator