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

Karnataka 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 Karnataka Bank personal loan could be easily accessed for personal and business purposes. The bank also offers different personal loans inclusive of various kinds of schemes and benefits for different kinds of individuals.

These loans also cater to different types of needs. You can also know what the EMI amount would be for the Karnataka Bank personal loan from the Karnataka Bank Personal loan calculator.

What is the Karnataka Bank Personal Loan EMI Calculator?

The Karnataka Bank personal loan EMI calculator is an online tool that you can use in order to find out what the EMI amount would be based on your personal loan from Karnataka Bank.

The calculator could be used by anyone and at any time, and all you would have to do is provide some standard details to use it. The Karnataka Bank personal loan calculator is a free tool that is offered by Groww, and it could be used as many times as you want.

The Karnataka Bank personal loan EMI calculator can also be used as a tool of comparison to compare different values and different tenures to know what the perfect EMI amount would be.

You can also use the calculator as a source to know how much interest you would have been charged based on the personal loan that you are willing to take from Karnataka Bank.

How Does the Karnataka Bank Personal Loan Interest Rate Calculator Work?

The Karnataka Bank personal loan calculator uses a standard formula that gives accurate results, and the formula is:

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

This formula expanded stands for:

P - The Principal Amount

N - The Tenure of the Loan

R - The Interest Rate of the Personal Loan

This formula can also be explained through an example that is mentioned below.

Mr Suresh wants to take a personal loan from the Karnataka Bank in July 2022. He wants a loan amount of Rs. 3 lakhs for a period of 5 years and an interest rate of 8.5%.

The details of the personal loan are:

Principal amount = Rs. 3 lakhs

Tenure = 5 Years

Interest Rate = 8.5%

EMI = Rs. 6,155

Amortization Table of the Personal Loan from Karnataka Bank

The repayment of the personal loan from the Karnataka bank is scheduled in a particular way. Here are the breakeven points of the personal loan based on the example that has been mentioned above:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding

2022

12,318

24,612

36,930

2,75,388

2023

21,396

52,464

73,860

2,22,924

2024

16,758

57,102

73,860

1,65,822

2025

11,710

62,149

73,859

1,03,673

2026

6,217

67,642

73,859

36,031

2027

897

36,033

36,930

0

How to Use the Personal Loan EMI Calculator Karnataka Bank?

Using the Karnataka Bank personal loan calculator is simple, and it is also very easy to use; here are the ground rules or steps that you would have to follow:

Step 1: You will have to enter the principal amount you need into the Karnataka Bank personal loan calculator.

Step 2: Secondly, you will have to provide the tenure you want to choose for the loan repayment.

Step 3: Thirdly, and also lastly, you will have to provide the interest rate that the bank is offering you.

After these details have been entered, you can see the EMI amount and the interest amount of the Karnataka Bank personal loan.

Advantages in Using Groww's Karnataka Bank Personal Loan Calculator

There are several benefits to using the Karnataka Bank personal loan EMI calculator, and some of the advantages of using this calculator are:

  • You will not have to register or sign up to use the Karnataka Bank personal loan calculator.
  • You could find out what the EMI amount would be almost instantly.
  • The steps to use this calculator are simple, and anyone can use it without any technical expertise.

Karnataka Bank Personal Loan EMI Calculator - FAQs

Q1. What are the features of the Karnataka Bank personal loan calculator?

This calculator is free, and anyone can use it to know their EMI amount.

Q2. How long will the Karnataka Bank personal loan calculator take to show me the results?

The results would be shown to you instantly.

Q3. What are the details that I need to enter on the Karnataka Bank personal loan calculator?

You will have to enter the principal amount, the tenure, and also the interest rate.

Q4. Do I have to register in order to use the Karnataka Bank personal loan calculator?

No, you can directly start using it.

Q5. When can I use the Karnataka Bank personal loan calculator?

You can use the calculator whenever you want to, and the calculator can be easily accessed when you have an internet connection.

ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 3.2.3
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