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Karur Vysya Bank(KVB) 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

There are various kinds of loans that are offered by Karur Vysya Bank, and the customers could also choose the type of loan they want to apply for based on all of their needs. Each of these personal loans also has a specific eligibility criterion.

The bank offers personal loans of up to 10 lakhs for a period of 5 years. You can also know what the EMI of this personal loan would be through the Karur Vysya Bank personal loan EMI calculator.

What is the KVB Personal Loan EMI Calculator?

The Karur Vysya Bank personal loan EMI calculator is an online tool for anyone to use when they want to know the EMI amount they would have to pay over a personal loan from Karur Vysya Bank.

The calculator also works on a formula that will end up giving you instant and 100% accurate results. The calculator will also give you the interest amount on the personal loan that you are taking from Karur Vysya Bank.

You can also know whether you are making the right decision with the Karur Vysya Bank personal loan and if you can afford to take out the personal loan right now. The calculator is provided for free on Groww's portal, and you can use the calculator 24/7. The Karur Vysya Bank personal loan calculator is also easily accessible for anyone to use.

How Does the Karur Vysya Bank Personal Loan EMI Calculator Work?

The Karur Vysya 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 expanded formula 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.

Rohit wants to take a personal loan from the Karur Vysya Bank. He took out his personal loan from the Karur Vysya Bank on the 10th of July, 2022. The principal amount is Rs. 2 lakhs, and for a period of 5 years, with an interest rate of 9% offered by the Karur Vysya Bank.

The information about the loan is as follows:

P - Rs. 2 lakhs

R - 9%

N - 5 Years

EMI = Rs. 4,152

Amortization Table of the Personal Loan from Karur Vysya Bank

Based on the example that has been mentioned above, we can look at a table that shows the breakeven points of personal loan repayment from Karur Vysya Bank:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

8,699

16,213

24,912

1,83,789

2023

15,135

34,685

49,820

1,49,102

2024

11,878

37,938

49,816

1,11,161

2025

8,320

41,499

49,819

69,662

2026

4,427

45,392

49,819

24,269

2027

641

24,269

24,910

0

How to Use the KVB Personal Loan Calculator?

It is simple to use the Karur Vysya Bank, and anyone who is looking forward to using this calculator will only have to follow the three simple steps that are given below:

Step 1: You will have to first enter the principal amount that is needed as a personal loan from the Karur Vysya Bank.

Step 2: Secondly, you will have to enter the tenure that you want to repay the personal loan.

Step 3: You will lastly have to provide the interest rate that the Karur Vysya Bank is providing over a personal loan.

Step 4: Now, you will be instantly displayed with the EMI amount and the interest amount over your personal loan.

How Will the KVB Bank Personal Loan EMI Calculator, Help You?

The KVB personal loan calculator can help you in the below-mentioned ways:

  • The KVB calculator can be used for free, and anyone can use it to benefit from it.
  • The calculator is a tool that you can use to compare different values to find the perfect EMI option.
  • The KVB calculator will also show you how much interest you will be paying over the personal loan.

Karur Vysya Bank(KVB) Personal Loan EMI Calculator - FAQs

Q1. What makes me eligible for a personal loan from Karur Vysya Bank?

You will have to check with the particular scheme that you want to opt for.

Q2. What details will be prompted to enter in the Karur Vysya Bank personal loan calculator?

You will have to enter the rate that the bank provides, the principal, and the tenure.

Q3. What is the interest rate of the Karur Vysya Bank personal loan?

The interest rates of the personal loans can change from time to time, and it will also depend on the type of personal loan that you are taking from the bank.

Q4. What is the maximum tenure of a personal loan from Karur Vysya Bank?

You can opt for a personal loan of up to a period of 5 years.

Q5. What is the formula that is used in the Karur Vysya Bank personal loan EMI calculator?

The formula that is used by the calculator is EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1].

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