| Monthly EMI | ₹ |
| Principal amount | ₹ |
| Total interest | ₹ |
| Total amount | ₹ |
Your Amortization Details (Yearly/Monthly)
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.
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.
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.
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.
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
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 |