Punjab National Bank Personal Loan EMI Calculator

Highlights

  • Check EMI Calculator Before Applying for Personal Loans
  • Find Your Repayment Future Via EMI Calculator

About Punjab National Bank Personal Loan EMI Calculator

Not glanced at Punjab National Bank Personal Loan EMI Calculator yet? Do that now to get an idea of the repayment days ahead in advance. It will only help plan your month-on-month budget better to ensure a smooth repayment experience. So, without any delay, let’s read about the calculator here.

EMI Calculator forPersonal Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

What is EMI?

The equated monthly installment (EMI) is a sum of interest and principal amount payable towards a loan. The EMI, though, is dependent on three factors – loan amount, tenure and the rate of interest. Lesser the interest rate, lower would be the EMI and vice-versa. So, you should focus on grabbing a lower interest rate deal with Punjab National Bank (PNB). You can strike a better deal on grounds of a healthy credit score, existing relationship with the bank, healthy income and a sound repayment potential.

EMI Calculation Formula

The EMI Calculator runs according to the formula as shown below.

E = P x R x (1+R)^N/((1+R)^N – 1),

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

Let’s just take the help of an example to get an idea of how repayment is going to pan out.

Example – Shashi Tripathi wants to avail a personal loan worth ₹2 lakhs for 5 years. The bank offers an interest rate of 12.40% based on his credit profile. How much EMI and interest Shashi would most likely to pay over the course of a loan?

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 2,00,00012.40%1₹ 17,807₹ 13,686₹ 2,13,686
₹ 2,00,00012.40%2₹ 9452₹ 26,850₹ 2,26,850
₹ 2,00,00012.40%3₹ 6681₹ 40,521₹ 2,40,521
₹ 2,00,00012.40%4₹ 5306₹ 54,694₹ 2,54,694
₹ 2,00,00012.40%5₹ 4489₹ 69,365₹ 2,69,365

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

YearPrincipalInterestBalance Amount
1₹ 30,783₹ 23,089₹ 1,69,216
2₹ 34,825₹ 19,048₹ 1,34,390
3₹ 39,397₹ 14,475₹ 94,993
4₹ 44,570₹ 9302₹ 50,422
5₹ 50,468₹ 3451₹ 0

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