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Axis Bank Personal Loan EMI Calculator

Loan amount
Rate of interest (p.a)
%
Loan tenure
Yr
Monthly EMI
Principal amount
Total interest
Total amount
Principal amount
Interest amount

Axis Bank gives its customers, and potential customers, personal loans of up to a price range of Rs. 15 lakhs, and the tenure of the loans go up to a period of 5 years. The bank also gives the eligible customer pre-approved instant personal loans without any paperwork.

These loans can easily be repaid through a set amount of EMIs each month for a fixed tenure. If you are planning on borrowing a personal loan from Axis Bank and you want to know what your equated monthly installment would be, you could use the Axis Bank Personal Loan Calculator. The calculator will allow you to check the EMIs beforehand.

What is the Axis Personal Loan Calculator?

The Axis Bank personal loan EMI calculator is a tool that anyone can use in order to gain access to estimations of their EMI amount. A calculator is an instantaneous tool that will not require any technical expertise or manual calculations. 

The calculator is a free and online tool that anyone can use at any given time. The tool works on a standard formula, and you can be assured of getting 100% accuracy in the results. You will also not have to provide any personal details. All you would have to provide is the basic information of the personal loan that you are willing to take from Axis Bank.

How Does the Axis Personal Loan EMI Calculator Work?

The personal loan calculator works on a standard formula as already mentioned; the formula is:

E = P x r x (1+r)^n/((1+r)^n-1)

This formula, when expanded, stands for

P - Principal Amount

N - Tenure of the Loan

R - Rate of Interest

We can also understand this formula through an example that can provide clarification:

Mr Ramesh wants to take a personal loan from Axis Bank, and 

The principal amount that he requires from Axis Bank is Rs. 5 lakhs, at the rate of 10.1%. The tenure that Ramesh chooses to pay off his personal loan is 4 Years. Therefore his EMI would be:

EMI = Rs. 12,705

Amortization Table

Based on the example that has been mentioned above, the table below can show you the break-even points of the personal loan from Axis Bank:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

24,166

52,068

76,234

4,47,933

2023

40,135

1,12,327

1,52,462

3,35,605

2024

28,252

1,24,215

1,52,467

2,11,392

2025

15,108

1,37,356

1,52,464

74,036

2026

2,195

74,035

76,230

0

What are the Benefits of Using the Axis Bank Personal Loan Eligibility Calculator?

There are a wide number of benefits while using the Axis Bank Personal loan calculator from Groww, and some of the main perks of using it are:

You will be able to plan your finances when you take a personal loan from Axis Bank.

You can choose the most suitable EMI option from the personal loan you take.

You will not be charged in any way to use this tool.

Procedure to Use the Axis Bank Personal Loan Interest Rate Calculator

The steps to use the Axis Bank personal loan calculator are simple and user-friendly, and the steps have been mentioned below:

Step 1: You will first have to provide the principal amount of the personal loan you want to take from Axis Bank.

Step 2: Secondly, you will have to provide the tenure of the personal loan (which can go up to a period of 5 years.)

Step 3: Lastly, you will have to enter the interest rate that Axis Bank is charging you over the personal loan.

After all of these details have been entered, you can easily discover what the EMI amount towards your personal loan would mostly be. You also need to note that there will be no processing fee added to the calculator. Therefore, you will have to check the processing fee.

Axis Bank Personal Loan EMI Calculator - FAQs

Q1. Can I take a personal loan from Axis Bank without any paperwork?

You will have to be pre-approved for a personal loan from the bank in order to take the loan with less to no paperwork at all.

Q2. Can I use the Axis Bank calculator more than once if I have a requirement?

You can use the calculator as many times as you want to, and you will not face any restrictions.

Q3. Do I have to register with Groww in order to use the Axis Bank personal loan calculator?

You will never be asked to register or even sign in or log in with Groww in order to use this calculator; you can directly use the calculator once you have a connection to the internet.

Q4. Does the calculator give me the interest rate of the personal loan from Axis Bank?

No. But you will be shown the interest amount that you will be charged over the loan through the interest rate that has been provided.

Q5. What is the maximum time period for a personal loan from Axis Bank?

The tenure of the personal loans from Axis Bank can go up to a period of 5 years.

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