# Bank of Baroda Personal Loan EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

0

Principal Amount

Interest

Total Payable

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## What is the Bank of Baroda Personal Loan EMI Calculator?

The Bank of Baroda personal loan EMI calculator is a ready-to-use tool that uses a preprogrammed formula to process your input and computes your EMI along with total interest and repayment. The calculator simplifies the EMI calculations and yields error-free results based on loan tenure and applicable interest.

The Bank of Baroda personal loan EMI calculator requires you to input only necessary information, including the loan amount, repayment tenure, and interest rate. With a few clicks, it can promptly compute the EMI you must pay throughout the loan tenure. These details help assess the loan's affordability so you can make informed decisions.

## How Does the Bank of Baroda Personal Loan EMI Calculator Work?

The Bank of Baroda personal loan EMI calculator instantly computes the EMI value. It allows you to adjust the sliders or type in the desired loan amount, the applicable personal loan interest rate, and the repayment tenure. It displays results as soon as the information is entered.

You can adjust or change these variables as often as needed to understand which combination works best for you.

## What is the Bank of Baroda Personal Loan EMI Calculator Formula?

The calculator uses the Bank of Baroda personal loan EMI calculator formula to determine the EMI amount. The formula is below:

EMI = [P x R x (1+R) ^N]/[(1+R) ^N-1]

Where,

P - principal amount

R - interest rate

N - the number of instalments

Like most borrowers, you may find calculation using the Bank of Baroda personal loan EMI calculator formula time-consuming and difficult. The online Bank of Baroda personal loan EMI calculator on Angel One official makes the calculation incredibly simple.

## How to Use the Bank of Baroda Personal Loan EMI Calculator Online?

You can visit the Angel One Bank of Baroda personal loan EMI calculator page and calculate your loan EMI:

1. Enter the loan amount you seek
2. Enter or adjust the interest rate offered by the bank on its loans
3. Enter the loan tenure for convenient repayment of your loan

You don't need to worry about complex calculations using the Bank of Baroda personal loan EMI calculator formula. The Bank of Baroda personal loan EMI calculator will instantly display the monthly instalment amount for your loan repayment.

Experiment with varying values of loan amount, interest rate, and duration to explore various repayment scenarios and determine what works best. If you want to pay a lower personal loan EMI, you can reduce the loan amount or extend the loan tenure.

Let's understand how to use the Bank of Baroda personal loan EMI calculator with the help of an example.

Suppose you wish to borrow Rs. 2,00,000 as a personal loan, and the interest rate is 12% per annum. If the loan tenure is 7 years. Below are the details of your loan obligations:

EMI = Rs. 3,531 per month

Total interest = Rs. 96,566

Payable amount = Rs. 2,96,566

## Benefits of Using the Bank of Baroda Personal Loan EMI Calculator

1. User-friendly: The Angel One Bank of Baroda personal loan EMI calculator is a user-friendly tool that makes decision-making about your personal loan easy. After you provide the desired personal loan amount, applicable interest rate, and convenient repayment term, the tool will automatically compute the EMI.

2. Time-saving: Say goodbye to manual calculations! Use the Bank of Baroda personal loan EMI calculator to eliminate the need for tedious manual calculations and save you valuable time.

3. Accurate results: The Bank of Baroda personal loan EMI calculator is highly accurate. You can confidently adjust the factors to find a suitable EMI, knowing that the results are precise and reliable each time.

4. Improved financial planning: Using the results from the calculator, you can plan your finances better and ensure that you do not miss your EMI payments.

## Types of Personal Loans Provided by Bank of Baroda

Bank of Baroda provides affordable personal loans at convenient terms to meet your immediate financial needs. Salaried individuals, self-employed individuals, and professionals can apply for a personal loan. Below are some types of loans that the Bank of Baroda offers:

• Baroda Loan to Pensioners
It offers various personal loans offering support during retirement. The amount of pension loan varies depending upon the following classification:
• For regular pensioners
• Up to 70 years: Rs. 8 lakhs
• Above 70 years: Rs. 5 lakhs
• For family pensioners
• Up to 70 years: Rs. 3 lakhs
• Above 70 years: Rs. 1.5 lakhs
• Baroda Digital Pre-Approved Personal Loan
The pre-approved personal loan by the Bank of Baroda offers instant money through a hassle-free online process. It offers a loan amount ranging from Rs. 50,000/- to Rs. 5,00,000/-.

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## FAQs

What is the Bank of Baroda personal loan EMI calculator?

The Bank of Baroda personal loan EMI calculator is a valuable tool that assists in estimating the EMI amount required to repay a personal loan. By considering factors such as the loan amount, interest rate, and loan tenure, this calculator approximates the monthly instalment that needs to be paid.

How to use the Bank of Baroda personal loan EMI calculator?

Visit the official website of Angel One and enter the loan amount, interest rate, and tenure as input to the online Bank of Baroda personal loan EMI calculator. It will display monthly instalments for the entire loan repayment tenure so that you can plan your finances efficiently.

Is the Bank of Baroda personal loan EMI calculator free to use?

You can visit Angel One and find the Bank of Baroda personal loan EMI calculator that offers free access to everyone.

How is the total interest on a Bank of Baroda personal loan calculated?

The total interest on a Bank of Baroda personal loan is the amount received by subtracting the loan amount from the sum of all monthly EMIs paid over the loan tenure. The interest rate depends on your loan eligibility, income, and creditworthiness.

Is there a penalty on prepayment of the Bank of Baroda personal loan?

Yes. You must pay the penalty if you decide to prepay your personal loan amount before the decided tenure. The exact penalty percentage depends upon the agreement conditions and the amount you have borrowed.

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