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

IndusInd 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

IndusInd Bank offers customers personal loans that go up to a range of Rs. 25 lakhs, and the tenure of these personal loans go up to a period of five years. They are also a financial institution that provides online personal loans with quick approvals and low processing fees. 

If you are choosing the personal loan from IndusInd Bank, and you are looking forward to knowing what your estimated EMI for this personal loan would be, you can use the IndusInd Personal Loan EMI Calculator.

What is the Meaning of the IndusInd Bank Personal Loan Calculator?

The IndusInd Bank personal loan calculator is an online tool that you can use to know what the EMI of the personal loan would be from the IndusInd Bank.

The calculator will take in a few details from your end and then produce you with the EMI amount of the personal loan from the IndusInd Bank. You can also find out what the interest amount of the IndusInd Bank would be when you opt for a personal loan from this bank.

The calculator uses a formula, which means you do not have to do any manual calculations. The calculator works in seconds, for free, and you would not have to register or sign up in order to use this online tool.

What is the Purpose of the IndusInd Bank Personal Loan EMI Calculator, and How Do I Use It?

Using the IndusInd Bank personal loan calculator is helpful to individuals who are planning on taking out a personal loan from the IndusInd Bank. This is because this calculator lets you save time that would usually be wasted on the calculations of the EMI amount on a personal loan.

The calculator is also free, which means in order to seek this assistance, you will not have to provide any charges or waste any resources. It will also help you to plan around the monthly budget after you take out a personal loan.

You could also use this tool as a tool of comparison to compare different values and tenures - to choose the one that suits you the most.

What are the Benefits that Come with the Personal Loan Calculator IndusInd Bank?

There are several benefits to using the IndusInd Bank personal loan calculator, and some of them are:

  • You would not have to pay in order to use this calculator.
  • The calculator will show you results instantly.
  • You can compare different values to know the most suitable EMI options for you.
  • The calculator will also show you the interest amount that you will be paying over the personal loan.
  • You would have to have any expert technical skills in order to use this calculator.

How Does the IndusInd Bank Personal Loan Interest Rate Calculator Work

The IndusInd Bank personal loan EMI calculator uses a predetermined formula, and that is:

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

This formula can be expanded as follows:

P - Principal

R - Interest Rate

N - Tenure

We can also look at this formula through an example:

Mr Gopal wants to take a personal loan of Rs. 4 lakhs, and the tenure and interest rate given to him as of July 2022 are - 5 years and 10%, respectively. Therefore the details of the personal loan are:

Principal = Rs. 4 lakhs

Rate = 10%

Tenure = 5 Years

EMI = Rs. 8,499

Amortization Table of the Personal Loan from IndusInd Bank 

Based on the example that has been given above. We can conclude a breakeven repayment schedule of the personal loan of the bank as follows:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

19,346

31,646

50,992

3,68,354

2023

33,766

68,219

1,01,985

3,00,133

2024

26,621

75,365

1,01,986

2,24,769

2025

18,729

83,257

1,01,986

1,41,512

2026

10,012

91,975

1,01,987

49,538

2027

1,454

49,538

50,992

0

 

IndusInd Bank Personal Loan EMI Calculator - FAQs

Q1. How do I know if I am eligible to apply for a personal loan in the IndusInd Bank?

You can check with the particular personal loan scheme that you need from IndusInd Bank.

Q2. What are the details that the IndusInd Bank personal loan EMI calculator will ask me for?

The calculator will ask you for the principal amount, the tenure, and the rate of interest that IndusInd Bank offers to customers.

Q3. How much will I be charged to use the IndusInd Bank personal loan calculator?

You will not be charged in order to use this calculator.

Q4. How long does the calculator take to give me the results of the EMI amount that I will have to pay?

You will be shown results instantly.

Q5. Do I need to register with Groww to use this tool?

No, you do not have to register to use the online 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