| Monthly EMI | ₹ |
| Principal amount | ₹ |
| Total interest | ₹ |
| Total amount | ₹ |
Your Amortization Details (Yearly/Monthly)
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.
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.
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
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 |
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.
The KVB personal loan calculator can help you in the below-mentioned ways: