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PNB 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 PNB Personal Loan EMI Calculator?

The online PNB Personal Loan EMI Calculator is a digital tool on Angel One official website that allows you to estimate the EMI you need to shell out to repay your loan with Punjab National Bank

The PNB personal loan EMI calculator works on a mathematical formula that helps to compute the EMI, interest payable, and total loan cost accurately. Calculating these lets you plan your finances and maintain cash flow to repay the personal loan.

The online PNB personal loan EMI calculator on Angel One has a user-friendly design that makes it simple to input the required information, quickly generating accurate results. It also eliminates the need for manual calculations and saves you time and effort. You can use this comprehensive tool to optimise your savings strategy and cultivate a substantial corpus for the future.

How Does the PNB Personal Loan EMI Calculator Work?

The online PNB Personal Loan EMI Calculator requires you to input just three variables. These include the amount you wish to borrow, the applicable interest rate, and the loan tenure. When you enter these inputs, the calculator displays the EMI amount, interest payable, and the total amount you will pay across the loan tenure. A mathematical formula powers these calculations.

What Is the PNB Personal Loan EMI Calculator Formula?

The calculator uses the PNB personal loan EMI calculator formula. Below is the formula:

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

Where;

P = Principal Amount

R = Rate of interest

N = Personal loan tenure in months

How To Use the Online PNB Personal Loan EMI Calculator?

The online PNB Personal Loan EMI Calculator requires the loan amount, interest rate, and personal loan term as inputs. Based on these inputs, it generates the value of EMI. Here's how to use it:

  • Access the PNB personal loan EMI calculator on Angel One.
  • Input the loan amount you intend to borrow.
  • Specify the applicable interest rate for the loan.
  • Input the repayment term in years, representing the duration you plan to repay the loan.

Once you've entered all the details, the online PNB personal loan EMI calculator will quickly process the information and generate the EMI you need to pay for your PNB personal loan.

The calculator will also display a detailed breakup of the EMI, including the total principal amount, interest, and payable amount.

Here is an example to illustrate this.

Suppose you want a personal loan of Rs. 5 lakh from Punjab National Bank and wish to repay it within a year. Assume the interest rate applicable on the loan is 12%. It can be complex if you do manual calculations. Inputting these values in the PNB personal loan EMI calculator, you will get the following result:

Your EMI would be Rs. 44,424 per month. Throughout this period, your total interest would amount to Rs. 33,093, and the total payable amount would be Rs. 5,33,093.

Benefits of Using the PNB Bank Personal Loan EMI Calculator

  • Ease of Comparison: With the online PNB personal loan EMI calculator, you can compare different home loan options by varying the loan parameters. It enables you to optimise your loan structure and choose the option that best suits your requirements. You can easily compare loan amounts, tenures, and EMIs to find the most favourable combination.

  • Enhanced decision-making: Using the PNB personal loan EMI calculator gives you a deeper understanding of repayment obligations. This knowledge helps you make informed decisions about your home loan and its impact on your financial situation. You can assess the long-term affordability of the loan and plan your finances accordingly, leading to better financial management.

  • Stress-free loan repayment: The online PNB personal loan EMI calculator eliminates the stress of manual calculations and uncertainty associated with your EMIs. It yields accurate figures, allowing you to plan your finances effectively and ensure timely repayments.

  • Transparency and clarity: The online PNB personal loan EMI calculator offers transparency by displaying the detailed breakup of your EMI, interest, and payable amount. This level of clarity enables you to assess and make adjustments if needed. This way, you can easily track your finances and stay informed.

Factors Influencing the PNB Bank Personal Loan EMI Amount

  • Loan amount: The loan amount you borrow will directly impact the EMI you’ll be paying. However, the monthly EMI can be reduced by picking a longer tenure but having longer tenure can make you pay high interest on the loan.

  • Repayment Term: The longer the repayment term, the shorter the EMI. This can attract people towards long repayment terms. However, this means you will be paying more interest. It is recommended to assess your needs and affordability and decide on the tenure accordingly.

  • Credit Score: A high credit score can help you to obtain a low-rate personal loan. A low-interest rate means lower EMI towards the loan. Generally, a credit score of 700 and above is regarded as good by lending institutions.

  • Your age and income: The older you are, the higher the risk from a lender’s perspective, especially if you are near retirement age. Therefore, older individuals may have to pay a higher interest rate on their personal loans, ultimately increasing the loan EMI.

Types of Personal Loans Offered By PNB

You can use the personal loan offered by PNB for a variety of needs, such as funding education, wedding, vacations, home repairs, etc. The types of personal loans that PNB offers are below:

  • Personal Loan for Public sector employees: This consumer loan is open to all salaried employees employed in central or state government agencies, universities, autonomous bodies, or hospitals and receiving their salary via PNB accounts.
    Loan Amount: Up to Rs. 20 lakh
    Repayment: Maximum 72 EMIs

  • Personal Loan Scheme for Self-employed: Such individuals can seek these personal loans to meet their business needs.
    Loan Amount: Up to Rs. 5 lakh
    Repayment: Maximum 60 EMIs

  • Personal Loan Scheme for Doctors: PNB personal loan for doctors is a great way to finance their personal and professional requirements.
    Loan Amount: 2 - 20 lakh
    Repayment: Maximum 84 EMIs

  • Personal Loan for Pensioners: This is an exclusive loan type meant to finance the requirements of the retired. Notably, this personal loan type does not attract a processing fee.
    Loan Amount: Up to Rs. 10 lakh
    Repayment: Maximum 60 EMIs

FAQs

What is the PNB personal loan EMI calculator?

The PNB Personal Loan EMI Calculator is your trusted companion in understanding the monthly instalment amount you must repay for your loan. It simplifies your financial planning by providing quick and accurate calculations, ensuring you stay on top of your loan repayment journey.

How to use a PNB personal loan EMI calculator?

To use the PNB personal loan EMI calculator, go to Angel One’s PNB Personal Loan Calculator page and enter the loan tenure, amount, and interest rate. The EMI calculator will display the EMIs based on the entered data instantly.

Is the PNB personal loan EMI calculator free to use?

Yes, PNB personal loan EMI calculator on the Angel One website is free for everyone. It is a convenient way to make informed decisions and ensure that you easily manage your loan.

How is the total interest of a PNB personal loan calculated?

The total interest you will pay on your loan is based on the borrowed amount, applicable interest rate, and loan tenure. You can calculate the total interest quickly using the online PNB Personal Loan EMI calculator.

Can I modify the EMI amount for PNB personal loan?

In some cases, the EMI amount can be modified. However, this is subject to the discretion of the lender. You can visit the nearby bank branch or write to customer care to check your eligibility for an EMI modification.

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