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PNB 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 Punjab National Bank offers you personal loans in order to meet your instant needs. The bank offers up to Rs. 20 lakhs under the personal loan scheme for the public and Up to 20 lakhs on doctor's delight and other personal loan schemes are offered by the bank. These personal loans can be used for various reasons and easily repaid through easy EMIs that are easy to pay.

An EMI of the PNB personal loan is a fixed amount of money that is paid based on the loan amount, tenure, and the rate of interest. Each month, this EMI will be due on a fixed date of the month until the loan has been fully repaid (principal+interest). 

When you want to know what the EMI amount would be for your personal loan from Punjab National Bank, you can also use the PNB Personal Loan EMI Calculator

What is the PNB Personal Loan Calculator?

The PNB Personal Loan Interest Rate Calculator is an online calculator that you can use in order to estimate the amount of EMI that you will have to pay over your personal loan.

This Punjab National Bank personal loan calculator can help you to calculate your EMI beforehand, which means you can know how much your EMI would possibly be when you borrow a personal loan from Punjab National Bank. 

This Calculator can give you accurate answers as it works on an algorithm and standard Formula to give you the right solutions. You can also use the Punjab National Bank personal loan calculator to know the interest amount that will be charged over your personal loan from the bank.

How Can the Punjab National Bank Personal Loan Calculator Help?

This Calculator is an online tool that does not need any technical skills or expertise in order to be used. Anyone who has access to the net can use this Calculator and know what their EMI amount would be.

It can be a tool that is used for comparing different amounts and tenures to know the EMI amount that you can afford as a whole. It will also keep you away from the errors that occur during the processes of manual calculations. 

What is the Formula that is used by the Calculator?

The formula that is used by this Calculator is 

E = P x r x (1+r)^n/((1+r)^n-1)

Here, when the Formula is expanded, we can derive the following:

P = The principal amount that you will be taking out as a personal loan from the Punjab National Bank.

R = This is the rate of interest that the Punjab National Bank is offering for its specific personal loan.

N = It is the tenure that you choose to pay off your personal loan to the bank.

We can also explain this Formula with an example:

Mr Sunil wants to take a personal loan from Punjab National Bank in July 2022 of Rs. 5 lakhs. He wanted to pay the loan over by a tenure of 1 year. The rate of interest that the bank charges him for the personal loan is 7.6%.

Therefore, the details of the loan to Calculator will be -

P = Rs. 5 lakhs

R = 7.6%

N = 1 Year (12 months)

EMI = Rs. 43,402

Amortization Table of the Punjab National Bank Personal Loan Repayment

Here is a table that can show you the break-even points of the personal loan based on the example above:

Year

Interest

Principal

Total Payment

Outstanding Loan

2022

15,145

2,45,264

2,60,409

2,54,734

2023

5,676

2,54,733

2,60,409

0

What are the Major Benefits of Using Groww's Punjab National Bank Personal Loan Calculator?

There are several benefits to using the Punjab National Bank personal loan calculator, and some of the major advantages are:

  • You can use it free of cost from Groww, and you wouldn't even be asked to register or sign in.
  • This Calculator can instantly assist you when you want to know the interest or the EMI.
  • The Calculator can be used as many times as you want.
  • You can also use the Calculator to know if you can plan around your personal loan EMI each month.

PNB Personal Loan EMI Calculator - FAQs

Q1. Can I use the Punjab National Bank calculator even If I am not a customer of the Punjab National Bank?

Yes. Anyone can use the Punjab National Bank personal loan calculator.

Q2. Is there a restriction to the number of times I can use this Calculator for one day?

No. There are no restrictions on the times that you can use this Calculator.

Q3. How can I apply for a personal loan from Punjab National Bank?

You can either apply for a personal loan from Punjab National Bank online or offline.

Q4. How to know if I am eligible for the personal loan from Punjab National Bank?

You will have to look into the specific kind of personal loan that suits your criteria since the bank offers more than three types of personal loans.

Q5. What are the details that the Calculator will ask me to enter?

You will have to enter the principal amount, the tenure, and the interest rate of the personal loan from Punjab National Bank.

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