Open Free Demat Account with Angel One
With Zero Brokerage on Equity Delivery
What Is the Bandhan Bank Personal Loan EMI Calculator?
Online calculators help you solve tricky equations related to EMI calculations without worrying about errors that occur while doing it manually. The Bandhan Bank personal loan EMI calculator is an online calculator offered by Angel One. It helps you calculate the EMI you need to repay your personal loan. It offers a quick and convenient way to assess your loan repayment obligations before you apply for a loan.
By entering your loan amount, interest rate and term into the calculator, you will instantly get accurate results on your monthly EMI. This allows you to plan your finances effectively and make informed decisions about the affordability and repayment of your loan. The Bandhan Bank personal loan EMI calculator considers the principal amount, interest rate, and loan tenure as primary variables to calculate the EMI. Using the Bandhan Bank personal loan EMI calculator, you can explore various combinations of principal and tenure and choose one based on your financial goals and capabilities.
How Does the Bandhan Bank Personal Loan EMI Calculator Work?
The personal loan EMI calculator is a valuable online tool that helps you understand your monthly loan repayment obligations. It considers three key factors: the loan amount, interest rate, and loan tenure. It works on a mathematical formula that runs in the background and substitutes the primary variables to instantly generate the EMI, interest payable, and total loan cost.
You can adjust the loan amount, tenure, or interest rate to see how it affects your EMI. It helps you plan your budget accordingly. You can also make informed decisions about your borrowing needs, evaluate your financial capabilities, and ensure that the loan suits your requirements.
What Is the Bandhan Bank Personal Loan EMI Calculator Formula?
For calculating personal loan EMI, you can use the following formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
P = Principal amount
R = Interest rate per month
N = Loan tenure in months
The Bandhan Bank personal loan EMI calculator uses the same formula. So, you can use the calculator instead of manual calculations and get accurate results.
How To Use the Bandhan Bank Personal Loan EMI Calculator Online?
The Bandhan Bank personal loan EMI calculator offered by Angel One is an online tool that assists you in calculating the EMIs you must pay towards your loan repayment. It is incredibly easy to use the calculator on the Angel One website. Just follow the steps below and get an overview of your loan obligations in seconds:
- Visit the online Bandhan Bank personal loan EMI calculator offered by Angel One.
- Enter the loan amount.
- Enter the interest rate. You can use the slider to adjust the value.
- Enter the loan tenure.
- Once you input the values, the Bandhan Bank personal loan EMI calculator will display the results.
You can try different values to determine the EMI amount and tenure that fits your budget.
Here is an example.
Suppose you wish to borrow a personal loan of Rs. 6,00,000 to clear a medical bill. The bank charges you 9% p.a., and you wish to repay this loan in 4 years.
Enter the values in their respective fields in the calculator. The Bandhan Bank personal loan EMI calculator will instantly calculate the EMI. To repay a personal loan of Rs. 6 lakh in 4 years, you will have to pay Rs. 14,931 per month. The total interest will be Rs. 1,16,689, and the total payable amount will be Rs. 7,16,689.
Benefits of Using the Bandhan Bank Personal Loan EMI Calculator
- Convenient Loan Repayment Planning: The Bandhan Bank personal loan EMI calculator enables you to calculate the exact EMI amount you will need to repay each month. This helps you plan your budget effectively and ensures that you can comfortably manage your loan obligations.
- Quick and Accurate: The Bandhan Bank personal loan EMI calculator generates instant results, saving time and effort. With just a few inputs, you can calculate your EMI amount and loan repayment schedule accurately.
- Easy Comparison of Loan Options: By adjusting varying values of the loan amount, tenure, and interest rate, you can compare different loan options and choose the one that suits you best. This empowers you to make informed decisions based on your financial capabilities and requirements.
- Transparent Financial Insights: The Bandhan Bank personal loan EMI calculator breaks down the EMI into principal and interest components. This transparency empowers you to make well-informed financial decisions and determine whether the loan suits your needs.
Type of Personal Loans Offered by Bandhan Bank
While a myriad of loans are offered by Bandhan Bank, ranging from home to car loans, they also provide you with personal loans that you may use for education, medical emergencies, travel, etc.
As for the personal loan, you can borrow a loan amount ranging from Rs. 50,000 to Rs. 25,00,000 at attractive interest rates. It helps you enjoy the flexibility of choosing a repayment tenure of up to 60 months, allowing you to manage your EMIs comfortably. With Bandhan Bank, you can experience faster loan processing and the convenience of a doorstep document pick-up process. The quick loan processing ensures you receive the funds you need promptly.
You can take advantage of the part payment feature to reduce your outstanding loan amount and pay off your loan faster. Additionally, Bandhan Bank deducts no foreclosure charges on loan amounts of Rs. 10 lac and above, giving you the freedom to close your loan without any extra cost. Explore the diverse personal loan options from Bandhan Bank and efficiently fulfil your financial aspirations.
The Bandhan Bank personal loan EMI calculator offered by Angel One is a tool that assists you in calculating the EMIs you will have to pay towards the repayment of your loan. The calculator's results also include the total payable interest and final amount.
Visit the Angel One website and navigate to Bandhan Bank personal loan EMI calculator. Enter the principal amount, rate of interest, and loan tenure. The calculator will display the results instantly.
Yes, the Bandhan Bank personal loan EMI calculator is free to use. You can access it anytime, anywhere, and it can be used multiple times.
The minimum amount you can take as a personal loan varies from bank to bank.
To calculate the total interest on a personal loan, you can use the Bandhan Bank personal loan EMI calculator offered by Angel One. Enter the principal amount, interest rate, and loan tenure. The calculator will display the results with the total interest. This calculation is based on the formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1].