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J&K 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

The J&K Bank gives customers personal loans along with their various other services and products. These personal loans are also known to have one of the most flexible repayment tenures that range from a period to 10 years.

These loans are not just offered to salaried persons, but they are also offered to pensioners, family pensioners, and more. If you are also thinking about opting for a personal loan from J&K Bank, then you can easily find out what is the EMI amount that you would be paying over this loan in the repayment tenure through the J&K Bank personal loan calculator.

What is the J&K Bank Personal Loan Calculator?

The J&K Bank personal loan calculator is an online tool that anyone can use in order to estimate the amount of EMI that they would be paying over a personal loan that they want to borrow from the J&K Bank.

You can also use this calculator to know if you are making the right choice in terms of choosing the J&K Bank and the particular personal loan scheme that the bank is offering you.

You would not have to do any manual calculations when you use the J&K Bank personal loan calculator, and you can enjoy the benefits of an error-free accurate result within seconds.

You can find the J&K Bank personal loan EMI calculator online and on Groww's portal for any time use.

How to Use the JK Bank Personal Loan EMI Calculator?

Using the J&K Bank personal loan calculator is simple, and you will only have to know the three basic steps to use it, which are:

Step 1: You will have to provide the J&K Bank personal loan principal that you want.

Step 2: You will have to provide the tenure of the loan.

Step 3: Lastly, you will be entering the interest rate that the J&K Bank is providing you.

After these details have been provided, you will instantly be shown the amount of EMI that you would have to pay over the personal loan from J&K Bank.

What are the Benefits of Using the Personal Loan EMI J&K Bank Calculator?

There are several benefits that you can make use of when you use the J&K Bank personal loan calculator, and some of the main ones are:

  1. You would not have to rely on manual calculations.
  2. You can plan your monthly budget around the personal loan EMI that you want to take.
  3. You can find out whether this decision that you are making is worthwhile.

The Formula of the Calculator

The J&K Bank personal loan calculator works on a basic standard formula, and that formula is:

EMI = [ P x R x (1 + R) ^ N ]/[(1+R)^N - 1]

Here, the formula means - P for principal, R for interest rate, and the N for the tenure of the loan. 

We can also explain this formula through an example.

Ms Leela wants to take a personal loan from J&K Bank in July 2022. The loan details are as follows:

The principal amount of the personal loan = Rs. 8.3 lakhs

The interest rate that the bank is providing = is 11%

Tenure of repayment for the loan = 5 Years

EMI = Rs. 18,046

Amortization Table of the Personal Loan

Based on the example and the details of the personal loan that has been provided above, Leela will be paying her personal loan EMI in the following manner, and the table below can show you the breakeven points of the personal loan that she has taken from J&K Bank:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

44,197

64,081

1,08,278

7,65,920

2023

77,373

1,39,180

2,16,553

6,26,738

2024

61,268

1,55,287

2,16,555

4,71,450

2025

43,297

1,73,257

2,16,554

2,98,193

2026

23,247

1,93,308

2,16,555

1,04,887

2027

3,390

1,04,886

1,08,276

0

 

J&K Bank Personal Loan EMI Calculator - FAQs

Q1. What is the process for using the J&K Bank personal loan calculator?

You will simply have to enter the principal amount, the tenure, and the interest rate to use the calculator online.

Q2. Can I use the J&K Bank personal loan calculator more than once?

Yes. You could use it as many times as you want to.

Q3. What is the cost of using the J&K Bank personal loan EMI calculator?

There are no costs that are included in the use of the calculator.

Q4. Do I have to be a J&K Bank customer to get a personal loan from there?

No, you will not have to be a customer of the bank to get the loan.

Q5. What is the main perk of using the J&K Bank personal loan calculator?

There are several benefits, and the main benefit is that you can use it without having to do any manual calculations.

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