| RESULTS | |
|---|---|
| Loan Amount | ₹₹ 2,50,000 |
| Interest Rate | 10.99%% |
| Tenure(Months) | 224 |
| Monthly Instalment (EMI) | ₹₹ 2,631 |
| Total Interest Amount | ₹ ₹ 3,39,334 |
| Total Amount (Principal + Interest) | ₹₹ 5,89,334 |
While taking the personal loan from Standard Chartered Bank, you can also calculate your EMIs, Interest Outgo and Total Amount Payable. Yes, with Standard Chartered Bank Personal Loan EMI Calculator everything is possible as this smart and time-saving device helps you in enjoying your personal loan journey. To use this smart tool effectively, it is mandatory to fill the below credentials:
- Loan Amount
- Interest Rate
- Tenure
The device takes into consideration the above values and then let you know about the results of EMI, Interest Outgo and Total Amount Payable. It shows the data with a graphical representation, making things easier for you to understand.
Standard Chartered Bank Personal Loan EMI Calculator
Let’s just make you understand the functionality of this tool with the help of an example below.
Suppose, Akash Gupta, a 28-year-old, Sales Manager by profession is looking for a personal loan of ₹3 Lakh. The Bank has agreed to offer him the loan at an interest rate of 10.99% per annum for a tenure of 5 years. Now, for your reference, below is a table showing how much EMI, Interest and Total Amount would be paid by Akash to repay his loan.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 10.99% | 1 | ₹ 26,513 | ₹ 18,157 | ₹ 3,18,157 |
| ₹ 3,00,000 | 10.99% | 2 | ₹ 13,981 | ₹ 35,543 | ₹ 3,35,543 |
| ₹ 3,00,000 | 10.99% | 3 | ₹ 9820 | ₹ 53,527 | ₹ 3,53,527 |
| ₹ 3,00,000 | 10.99% | 4 | ₹ 7752 | ₹ 72,106 | ₹ 3,72,106 |
| ₹ 3,00,000 | 10.99% | 5 | ₹ 6521 | ₹ 91,274 | ₹ 3,91,274 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 47,636 | ₹ 30,618 | ₹ 2,52,363 |
| 2 | ₹ 53,144 | ₹ 25,111 | ₹ 1,99,218 |
| 3 | ₹ 59,287 | ₹ 18,967 | ₹ 1,39,931 |
| 4 | ₹ 66,142 | ₹ 12,113 | ₹ 73,788 |
| 5 | ₹ 73,847 | ₹ 4466 | ₹ 0 |
Standard Chartered Bank EMI Calculation Formula
An EMI Calculator uses the below formula to calculate your EMI:
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