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Explore how your monthly EMI changes for different personal loan amounts, helping you plan your budget effectively. Compare these calculated Personal Loan EMIs for various loan amounts to find the best fit for your financial goals.
Loan Amount | EMI based on 10.99% Interest Rate & 6 Years Tenure |
---|---|
₹50,000 Personal Loan EMI | ₹951 |
₹1 Lakh Personal Loan EMI | ₹1,902 |
₹2 Lakh Personal Loan EMI | ₹3,805 |
₹3 Lakh Personal Loan EMI | ₹5,708 |
₹4 Lakh Personal Loan EMI | ₹7,611 |
₹5 Lakh Personal Loan EMI | ₹9,514 |
₹6 Lakh Personal Loan EMI | ₹11,417 |
₹7 Lakh Personal Loan EMI | ₹13,320 |
₹8 Lakh Personal Loan EMI | ₹15,223 |
₹9 Lakh Personal Loan EMI | ₹17,126 |
₹10 Lakh Personal Loan EMI | ₹19,028 |
₹15 Lakh Personal Loan EMI | ₹28,543 |
₹20 Lakh Personal Loan EMI | ₹38,057 |
₹25 Lakhs Personal Loan EMI | ₹47,572 |
₹30 Lakhs Personal Loan EMI | ₹57,086 |
₹35 Lakhs Personal Loan EMI | ₹66,601 |
Here are the steps to use Kotak Mahindra Bank personal loan EMI Calculator online
Your EMI will be automatically calculated and displayed.
To check your eligibility, you can use the personal loan eligibility calculator.
Key Benefits:
Calculating the EMI for a Personal Loan involves using a formula that considers three essential factors: loan amount, interest rate, and tenure (in months). To streamline this process, individuals use a Personal Loan EMI and interest Calculator. It helps in understanding the financial implications of a loan by allowing borrowers to calculate Personal Loan EMIs effortlessly.
The personal loan interest rate calculator is valuable for those looking to take a Personal Loan. It offers insights into monthly repayment amounts and facilitates better financial planning. It also empowers borrowers to make informed decisions and ensures a clear understanding of their financial commitments throughout the loan tenure.
Personal Loan EMI Calculation Formula
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
The steps involved in using this formula are:
A personal loan amortisation schedule is a detailed table that outlines the repayment process of your loan over time. This table typically contains the following fields:
This schedule helps you understand how your loan balance decreases over time and how much of each payment is applied to interest versus the principal.
To reduce the EMI amount on a Personal Loan, consider these measures.
EMIs, or Equated Monthly Instalments, refer to the payments that borrowers need to make to repay their Personal Loans fully. They are composed of both the principal amount and interest charges and these EMIs remain consistent over the entire duration of the loan term.
A personal loan amortization schedule is a loan repayment table. The table shows the details of how the loan is repaid and the interest paid in each installment.
An EMI Calculator can help you find out the EMI amount you have to pay every month against the amount of loan you wish to borrow for the tenure of your choice.
To calculate the EMI for a personal loan of Rs.10 lakhs, visit the personal loan EMI calculator page on Kotak Mahindra Bank’s website. Add the loan amount of Rs. 10 lakhs. After that choose a rate of interest, for example, you select 11 % per annum. Finally, add the repayment tenure that you want to choose, for example, 5 years. Based on the calculation with Kotak Bank personal loan EMI Calculator, the resultant EMI will be Rs 21,742. Keep in mind that a shorter tenure will increase the EMI amount and a longer tenure will keep it low.
If you want to borrow a personal loan of Rs. 20 lakhs at an 10.99 % per annum rate of interest for 5 years, you have to pay an EMI of Rs. 38,057 per month.
For a personal loan of Rs. 5 lakhs with a repayment tenure of 5 years and an interest rate of 11 % per annum, you have to pay an EMI of Rs. 10,871. The total amount payable will be Rs. 652,273, of which Rs. 152,273 will be towards the interest.
Page also available in: हिन्दी - Hindi
Click here to know more about different types of personal loan