| Monthly EMI | ₹ |
| Principal amount | ₹ |
| Total interest | ₹ |
| Total amount | ₹ |
Your Amortization Details (Yearly/Monthly)
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.
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.
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
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 |
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.
There are several benefits to using the Karnataka Bank personal loan EMI calculator, and some of the advantages of using this calculator are: