# Lakshmi Vilas Bank Personal Loan – Apply Online 2024

Personal Loan

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## Lakshmi Vilas Bank Personal Loan Interest Rates June 2024

Particulars Details
Interest Rates 11.55%
Loan Amount ₹10,000-No Cap
Tenure 60 months
Processing Fee 0.25% of the loan amount

### Lakshmi Vilas Bank Personal Loan EMI Calculator

When it comes to calculating your EMI, it is also important to know what does it actually mean. An EMI is a combination of principal and interest that you pay each month in order to repay your personal loan. So, now here comes a question, i.e. how LVB personal loan EMI calculator online will calculate your EMIs? Well, it’s the EMI Calculator, a magical tool that actually helps in calculating the EMIs of your personal loan via taking into your loan amount, tenure and interest rate. Let’s understand this thing with the help of an example below.

For example-Vikas Gupta, a Senior Sales Manager is working in a reputed company and wants to take his family for a foreign vacation in Malaysia. Thus, for that he is willing to avail a personal loan of ₹3,00,000 for 5 years at an interest rate of 11.20% per annum from Lakshmi Vilas Bank. Now, if we calculate the EMI, interest outgo and total amount payable from your pocket with the help of an EMI Calculator, it will come out to be:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 3,00,000 11.55% 1 ₹ 26,592 ₹ 19,098 ₹ 3,19,098
₹ 3,00,000 11.55% 2 ₹ 14,059 ₹ 37,418 ₹ 3,37,418
₹ 3,00,000 11.55% 3 ₹ 9900 ₹ 56,398 ₹ 3,56,398
₹ 3,00,000 11.55% 4 ₹ 7834 ₹ 76,033 ₹ 3,76,033
₹ 3,00,000 11.55% 5 ₹ 6605 ₹ 96,319 ₹ 3,96,319

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

YEAR PRINCIPAL INTEREST BALANCE AMOUNT
1 ₹ 47,052 ₹ 32,211 ₹ 2,52,947
2 ₹ 52,784 ₹ 26,479 ₹ 2,00,162
3 ₹ 59,214 ₹ 20,049 ₹ 1,40,947
4 ₹ 66,427 ₹ 12,836 ₹ 74,519
5 ₹ 74,582 ₹ 4744 ₹ 0

### Eligibility Criteria

Individuals including persons coming together to avail the loan in joint names holding National Savings Certificates (NSCs) and Kisan Vikas Patras ( KVPs) & LIC policies in their names

### Lakshmi Vilas Bank Personal Loan Eligibility Calculator

Now, that you are ready to avail the loan, it is also important to pay attention towards the loan eligibility of Lakshmi Vilas Personal Loan. To know more about the same, take a look at the below example.

Let’s say, Juhi Walia, a Content Writer earning a handsome salary of ₹90,000 monthly. Now, if she spends half of her salary i.e. ₹45,000 in a month, it is obvious that she also saves the same amount each month. So, now what would be her loan eligibility for the personal loan. Well, the lender will assume that you have enough savings that can be used to repay the loan, so the lender will be more than happy to give you a personal loan. Now, if we calculate her EMIs by keeping in mind loan amount, tenure and rate of interest on the eligible loan amount, what is the output of the same? Take a look below to know more about the same

• Amount- ₹1 Lakh
• Loan Tenure-5 years
• Rate of Interest-11.55% p.a.
• Your monthly EMI will be-₹2,202
• So your personal loan eligibility would be: ₹1 Lakh x 45000/2202= ₹20.43 Lakhs. You can also use a personal loan eligibility calculator online to know the exact amount you are eligible to get.

### Documentation Required

Salaried Self-employed
Signed application form with photograph Signed application form with photograph
Copy of passport/voter ID card/driving license Copy of passport/voter ID card/driving license
Processing fee cheque Processing fee cheque
Last 3 months bank statement/6 months bank passbook Last 3 months bank statement/6 months bank passbook
Latest salary slip Latest Bank statement
Current dated salary certificate with the latest Form 16 Latest ITR or Form 16

### Lakshmi Vilas Bank Personal Loan Online Apply

Applying for your favourite personal loan is no more a hassle as all you need to do is simply apply online. Yes, with the help of using an online facility, you can easily apply for this unsecured credit facility from the comfort of your home or office. You simply need to visit the bank’s official website, fill an application form and click on the submit button.Yes, in just a few minutes, your online loan application would reach to the bank and you will get a call from the executives if your profile/eligibility meets their requirement.

### About Lakshmi Vilas Bank Personal Loan

Looking for a loan to meet your personal expenses? Well, look no further as Lakshmi Vilas Bank is here to make your life full of surprises and happiness. Yes, with the help of Lakshmi Vilas Bank Personal Loan online or Lakshmi Vilas Easy loan, you can not only fulfill personal and domestic expenses, make fresh investments including tax- planning investments, pay income tax, invest in business, etc.

Lakshmi Easy Loan loan is available at one of the lowest interest rates and easy documentation, flexible tenures and low fee and charges, hence is preferred by many borrowers. Decked with various features and benefits, this loan gives you an opportunity to meet your desires in the best way possible. Moreover, the best thing about this loan is the fact that it can be availed anytime to cater any need.