Groww Logo
Home>Calculators>Bandhan Bank Personal Loan EMI Calculator
SHARE

Bandhan 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

Bandhan Bank offers its customers personal loans that range from a period of 5 years and amount up to Rs. 15 lakhs. The bank also claims to disburse these personal loans within two days of approval.

The personal loans of Bandhan Bank could also be easily repaid through EMIs (equated monthly installments.) EMIs are fixed amounts that need to be paid each month on a particular date.

When you plan on taking a personal loan from Bandhan Bank and want to know your EMIs beforehand, you can use the Bandhan Bank Personal Loan Calculator.

What is the Bandhan Bank Personal Loan EMI Calculator?

The Bandhan Bank personal loan calculator is an online tool that will assist you in calculating the Equated Monthly Installment amount that you will have to be paying each month if you borrow a loan from Bandhan Bank.

You would only have to give some basic details about the loan, such as the principal Amount and more, and the calculator will instantaneously give you the most accurate results.

The Bandhan Bank personal loan EMI calculator will not include any extra charges that might occur when you actually apply for the loan. But, you can estimate what the EMI would be based on the Amount of money you want and the tenure you choose to repay the personal loan from Bandhan Bank.

How to Use the Bandhan Bank Personal Loan Interest Calculator?

Using the Bandhan Bank personal calculator is simple. It has been constructed to be a user-friendly tool for anyone to use. Therefore, you will have to follow the steps that have been mentioned below:

Step 1: You will have to provide the principal Amount that you want as a personal loan from the Bandhan Bank.

Step 2: Secondly, you will have to choose a preferred tenure to repay the loan.

Step 3: This is the last set of information you will have to provide; you need to check with the particular personal scheme of Bandhan Bank and enter that exact rate of interest.

Step 4: Finally, you will be displayed with the EMI amount, along with the interest amount over the entire loan amount.

How will the Personal Loan Calculator Bandhan Bank Help You?

The Bandhan Bank personal loan calculator is an easy-to-use tool. Anyone can use it, and you can use the tool as a comparison to choose which is the best choice of EMI for you.

You can also use the calculator to know what the monthly budget plan for your future should be. It can help in allocating resources the right way.

You will not fall for the inaccuracies that come along with manual calculations of EMIs or interest amounts. You can trust the calculator, as it uses a standard formula that can give results almost instantly without even having to wait. You would not have to register in order to use the calculator. Instead, you can directly start using it once you have access to the internet.

How Does the Bandhan Bank Personal Loan Calculator Work?

The Bandhan Bank personal loan calculator uses a standard formula to make calculations, and that formula is:

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

In order to understand this formula, we can split and expand it as - P for principal, N for tenure, and R for the rate of interest of the personal loan from Bandhan Bank.

We can also explain the formula with an example:

Mr Roy wants to take a personal loan from Bandhan Bank, and the personal loan amount that he requires is Rs. 8 lakhs, and he chooses to repay the loan over a period of 5 years. The bank charges him an interest rate of 10%.

The details and EMI of his personal loan are as follows.

Principal Amount = Rs. 8 lakhs

Tenure = 5 Years

Rate = 10%

EMI = Rs. 16,998

Amortization Table

Here is a table that will show you the breakeven points of the repayment of a personal loan based on the example mentioned above:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

38,695

63,292

1,01,987

7,36,708

2023

67,531

1,36,441

2,03,972

6,00,266

2024

53,242

1,50,729

2,03,971

4,49,537

2025

37,462

1,66,512

2,03,974

2,83,025

2026

20,024

1,83,947

2,03,971

99,076

2027

2,910

99,077

1,01,987

0

 

Bandhan Bank Personal Loan EMI Calculator - FAQs

Q1. What is the charge to use the Bandhan Bank personal loan calculator?

There are no charges for using the Bandhan Bank personal loan calculator.

Q2. How will I know when or if I am eligible for a personal loan from the Bandhan Bank?

You can check with the particular personal loan scheme that you want to take from the bank and then cross-verify if you fit into the eligibility criteria of the personal loan of the bank.

Q3. How many times can I use the Bandhan Bank personal loan calculator from Groww?

There are no restrictions on the number of times that you can use the Bandhan Bank personal loan calculator.

Q4. What are the details that I need to provide for this calculator?

All you need to do is enter the Principal Amount, the tenure, and the interest rate.

Q5. Do I have to be a customer of Bandhan Bank to use this calculator?

No. You do not have to be a customer of the bank to use this calculator.

ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 3.2.4
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  ICICI PRUDENTIAL |  HDFC |  NIPPON INDIA |  ADITYA BIRLA SUN LIFE |  SBI |  UTI |  FRANKLIN TEMPLETON |  KOTAK MAHINDRA |  IDFC |  DSP |  AXIS |  TATA |  L&T |  SUNDARAM |  PGIM |  INVESCO |  LIC |  JM FINANCIAL |  BARODA PIONEER |  CANARA ROBECO |  HSBC |  IDBI |  INDIABULLS |  MOTILAL OSWAL |  BNP PARIBAS |  MIRAE ASSET |  PRINCIPAL |  BOI AXA |  UNION KBC |  TAURUS |  EDELWEISS |  NAVI |  MAHINDRA |  QUANTUM |  PPFAS |  IIFL |  Quant |  SHRIRAM |  SAHARA |  ITI