Axis Bank Personal Loan EMI Calculator Let’s just throw some light on this by taking a look at an example below: Suppose, Yashika Malhotra, a 30-year-old, Content Writer by profession wants to avail a personal loan of ₹2 Lakh so as to pay her credit card debt. The bank has agreed to offer her the loan at an interest rate of 15.75% per annum for a tenure of 5 years. So, Yashika wants to know what would be her EMIs, Interest Outgo and Total Amount Payable towards a loan. So, she used a personal loan EMI Calculator online to know how much amount she needs to pay each month so as to repay her loan. Just take a look at the table below to find out the same. Table Showing EMI, Interest Outgo, and Total Repayment Amount
MONTHLY LOAN AMOUNT
INTEREST RATE
TOTAL INTEREST
TENURE INSTALMENT
AMOUNT
TOTAL AMOUNT
2,00,000
5.75%
18,123
17,470
2,17,470
2,00,000
5.75%
9769
34,450
2,34,450
2,00,000
5.75%
7007
52,243
2,52,243
2,00,000
5.75%
5642
70,839
2,70,839
2,00,000
5.75%
4837
90,225
2,90,225
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
YEAR
PRINCIPAL
NTEREST
BALANCE AMOUNT
28,547
29,497
1,71,452
33,383
24,662
1,38,069
39,037
19,007
99,031
45,649
12,395
53,382
53,444
4663
0
Axis Bank Personal Loan EMI Calculation Formula In order to calculate an EMI, the axis bank loan calculator uses the below formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] where, EMI = Equated Monthly Installment P = Principal Loan Amount R = Monthly Interest Rate N = Number of Monthly Installments
Axis Bank Personal Loan EMI Calculator Details Axis Bank Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 12% per annum Loan Amount
2 Years
3 Years
4 Years
5 Years
INR 1,00,000
INR 4,707
INR 3,321
INR 2,633
INR 2,224
INR 3,00,000
INR 14,122
INR 9,964
INR 7,900
INR 6,673
INR 5,00,000
INR 23,537
INR 16,607
INR 13,167
INR 11,122
INR 7,00,000
INR 32,951
INR 23,250
INR 18,434
INR 15,571
INR 10,00,000
INR 47,073
INR 33,214
INR 26,334
INR 22,244
INR 15,00,000
INR 70,610
INR 49,821
INR 39,501
INR 33,367
Axis Bank Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 24% per annum
Amount
2 Years
3 Years
4 Years
5 Years
INR 1,00,000
INR 5,287
INR 3,923
INR 3,260
INR 2,877
INR 3,00,000
INR 15,861
INR 11,770
INR 9,781
INR 8,630
INR 5,00,000
INR 26,436
INR 19,616
INR 16,301
INR 14,384
INR 7,00,000
INR 37,010
INR 27,463
INR 22,821
INR 20,138
INR 10,00,000
INR 52,871
INR 39,233
INR 32,602
INR 28,768
INR 15,00,000
INR 79,307
INR 58,849
INR 48,903
INR 43,152
Axis Bank Personal Loan Interest Rate Before availing a loan, it is important that you should know personal loan interest rates. Currently, the bank is offering the credit at an interest rate of 10.25% - 21.00% per annum. With the help of knowing the same, it would be easier for you to compare the rates in order to grab the best deal. Make sure that the rates being offered by the lender should be attractive so that you can easily repay your loan with pocket-friendly EMIs, which in turn would reduce your overall loan burden.
Axis Bank Personal Loan Apply When it comes to applying for Axis Bank Personal Loan, there are two ways to do the same. You can either apply online by following a quick and easy process, wherein you just need to visit a reliable site like Wishfin that helps in comparing and grabbing the best deal. While on the other hand, you can also opt to apply by visiting the bank itself. You just need to go the branch nearest to your location and submitting the required documents so as to apply for a personal loan.
Axis Bank Personal Loan Login You can anytime check the real-time status of your Axis Bank personal loan by simply log in through Net Banking. With the help of this online facility, it is absolutely easy and a hassle-free process to check the credentials of your loan. In fact, you can also apply for a new personal loan from your Axis Bank account online. The best thing about this facility is that you can anytime login to your account and know the insights on the go.
Axis Bank Personal Loan Eligibility
Before you apply for Axis Bank personal loan, it is important that you should be aware of the eligibility criteria set by the bank. Each lender has its own eligibility norms which revolve around age, income, credit score, job stability, work experience and so on. So, if an applicant wants to avail an unsecured credit facility, he/she should meet up the same conditions so as to enjoy a smooth journey.