# BOB Credit Card 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 BOB Credit Card EMI Calculator?

A credit card enables you to spend more than you can afford at any point in time and pay off the debt gradually in the form of monthly installments. Whether you are funding a vacation, settling hospital bills, buying expensive jewellery, or getting furniture for a new home, a credit card can be easily used for various online and offline transactions. The card-issuing bank usually predetermines the limit up to which you can spend. To prevent financial stress and maintain a good credit score, try to repay your credit card debt on time. To choose the right purchases based on the possible EMIs they will attract, it makes sense to calculate the EMI beforehand to ensure that you can afford the EMI and pay it in time.

You can use the BOB credit card EMI calculator on Angel One’s website to compute the EMI and decide if it’s affordable and suits your budget. When you enter the essential variables into the calculator, it will also display the total interest you will accumulate over the tenure along with the total repayment amount.

In this free online BOB credit card EMI calculator, you can enter different loan terms and check what the EMI will be in different situations. This way, you can choose a loan combination that is easy to repay.

## How Does a BOB Credit Card EMI Calculator Work?

This online tool uses the loan amount, loan tenure, and rate of interest to assess the monthly instalment, the total amount of interest, as well as the total amount to be repaid by the end of the tenure. Once you enter the inputs into the calculator, it plugs in the values in a mathematical formula that is preprogrammed in the calculator and then displays the results that can help to determine the affordability of the loan.

## What is the BOB Credit Card EMI Calculator Formula?

The credit card EMI calculator formula considers these three factors: the amount of loan, interest rate, and tenure.

Below is the BOB credit card EMI calculator formula:

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

Here,

P = Principal amount or loan

N = Duration

R = Rate of interest charged

## How to Use the BOB Credit Card EMI Calculator Online?

Below are the steps you need to follow to use the BOB credit card EMI calculator online on Angel One website:

1. Submit the amount of loan you require
2. Enter the applicable interest rate
3. Input the loan duration

The EMI, principal, total interest, and total repayment amount will be displayed in seconds.

This example will make it easier to understand the functioning of the calculator. Say, you want a loan of Rs. 1,00,000 for 4 years at an interest rate of 6.5%. These are the steps you need to follow while using the BOB credit card EMI online calculator for assessing the EMI, total interest, and total amount to be repaid:

1. Enter Rs. 1,00,000 as the loan amount
2. Choose 6.5% as the interest rate
3. Pick 4 years as loan duration

The calculator will immediately display Rs. 2,372 as EMI, Rs. 13,832 as the total interest amount, and Rs. 1,13,832 as the total repayment amount.

## Benefits of Using the BOB Credit Card EMI Calculator

Using a credit card EMI calculator offers plenty of benefits to its users, which are as follows:

1. Makes financial planning easy: With the BOB credit card EMI calculator, you can easily find out the monthly instalment amount that is suitable for you. It will help you handle your monthly budget better as well.
2. Eases comparison: By experimenting with different values for the loan amount, tenure, and interest rate, you can compare the EMI and total interest in multiple scenarios. This way, you can apply for a loan you can afford.
3. Simple and free: The EMI calculator is easy to use, requires no technical knowledge, and is available for free on the Angel One website.
4. Ensures accuracy: Mistakes are likely to occur when you manually use the BOB credit card EMI calculator formula. The online calculator, however, is accurate and super fast.

## Types of Credit Cards Offered by BOB

Here are the types of credit cards that BOB offers to its customers:

1. Vikram: This credit card type offers a Disney Hotstar subscription for 3 months and 5X reward points for every Rs. 100 you spend on movies, groceries, etc.
2. IRCTC: You can enjoy up to 40 reward points for every Rs. 100 you spend on train tickets, while booking through the IRCTC app or website.
3. Indian Coast Guard Rakshamah, Indian Navy Varunah, Indian Army Yoddha, Assam Rifles The Sentinel: This card gives 10 Reward Points for every Rs. 100 on grocery and departmental store spending and 2 Reward Points for every Rs. 100 spent on any other categories. You also get 12 months membership for Amazon Prime and 6 months membership for FITPASS Pro worth Rs. 15,000.
4. HPCL ENERGIE: You can save up to 5% while buying fuel at HPCL outlets and earn a 2000 bonus reward on spending Rs. 5,000 or more within 60 days of the card’s issuance.
5. Snapdeal: Get a maximum of 5% unlimited cashback on purchases made via the Snapdeal website or app.
6. CMA One, ICAI Exclusive, ICSI Diamond: Enjoy 12 complimentary access passes at multiple domestic airport lounges.
7. Easy: Get 5 reward points for every Rs. 100 spent at movies and departmental stores and a 1% surcharge waiver at all Indian fuel stations.
8. Eterna: Get 6 months of membership for FITPASS Pro and 15 reward points for every Rs. 100 you spend on dining, travel, international and online transactions.
9. Premier: Every calendar quarter, enjoy 1 complimentary airport lounge visit and earn 10 reward points for every Rs. 100 you spend on dining, travel and international expenses.
10. Select: Enjoy a 1% surcharge waiver on fuel purchases at any fuel station in India and 5 reward points for every Rs.100 spent online and on dining.
11. Swavlamban: Use this contactless card to avail of interest-free credit for up to 50 days.
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## FAQs

What is the BOB credit card EMI calculator?

This is a simple online tool that requires you to enter just a few key variables to compute the EMI, the total interest amount, and the total payable amount.

How to use the BOB credit card EMI calculator online?

After navigating to the Angel One website, enter the loan amount, tenure, and interest rate in the BOB credit card EMI calculator. It will instantly show you the EMI and total repayment amount.

Is the BOB credit card EMI calculator free to use?

You can use the BOB credit card EMI calculator as many times as you need without paying any charge. It is completely free.

How is the BOB credit card EMI calculated?

This is the formula used for calculating the monthly instalment on your credit card loan EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal, R is the interest rate BOB charges, and N is the loan duration.

Is it good to pay BOB credit card bills in EMIs?

Paying through EMIs is convenient when the loan amount is large. However, try to choose a short tenure to keep your total interest burden minimal. Also, make sure you don’t miss out on any EMI payments. -

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