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

RBL 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

RBL Bank offers personal loans to all its different types of customers, and the loan amount goes up to a price level of Rs. 20 lakhs for a tenure that reaches a period of 5 years. The bank is also known to offer clientele pre-approved loans and instant loans on various eligibility criteria.

These loans can easily be repaid through EMIs, and when you want to know what your EMI would be even before you take a loan from RBL Bank, or you just want to cross-check, you can use the Personal Loan Calculator RBL.

Everything that You Need to Know About the RBL Bank Personal Loan Calculator

Here are all of the details that you will have to know about the RBL Personal loan online calculating tool:

What is the RBL Personal Loan Calculator?

The RBL Bank personal loan calculator is an online tool that can be accessed by anyone to know what the EMI amount on a personal loan from RBL Bank would be. This calculator can give you instant answers and will put an end to all of the manual calculations that you would usually have to do in order to know a particular personal loan EMI. 

This RBL Bank personal loan calculator is a tool that can also be used in order to compare different values and tenures - and finally, choose the most suitable EMI option for you when you take a personal loan from the RBL Bank.

You can be sure of the results that occur with the RBL Bank personal loan calculator as there will be no human error in it.

How to Use the RBL Bank Personal Loan EMI Calculator?

The steps to use this calculator are simple:

Step 1: Provide the principal amount for the loan.

Step 2: Secondly, provide the tenure of the personal loan.

Step 3: Lastly, provide the interest rate that the bank is offering for the personal loan.

After these details have been given, you can instantly see the results on the screen.

How Does the RBL Personal Loan EMI Calculator Work?

The RBL Bank personal loan calculator utilizes a standard formula that provides you with the most accurate results - and the formula is:

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

This expanded formula stands for:

P - Principal 

N - Tenure 

R - Interest Rate 

This formula can also be explained through an example of a personal loan from RBL Bank, which is mentioned below.

Mr Thomas wants to take a personal loan from the RBL Bank o July 2022. The principal amount that he wants is Rs. 13 lakhs, and for a tenure of 5 years. The interest rate that RBL Bank is offering him over the personal loans is 12%. Therefore, the details of the personal loan from RBL Bank are as follows:

Principal Amount = Rs. 13 lakhs

Tenure of the Loan = 5 Years

Interest Rate by RBL Bank For the Personal Loan = 12%

EMI = Rs. 28,918

Amortization Table of the RBL Bank Personal Loan

According to the example that has been provided above, this is the break-even schedule of the payment of their personal loan to Mr. Thomas:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

75,581

97,927

1,73,508

12,02,074

2023

1,32,718

2,14,298

3,47,016

9,87,777

2024

1,05,538

2,41,474

3,47,012

7,46,302

2025

74,912

2,72,099

3,47,011

4,74,202

2026

40,404

3,06,610

3,47,014

1,67,592

2027

5,914

1,67,591

1,73,505

0

Benefits of Using the RBL Personal Loan Eligibility Calculator Online

There is a multitude of personal benefits to using the personal loan calculator of RBL Bank, and here are some of the most primary and generic advantages of using this calculator:

  1. You will not have to do any manual calculations in order to know the EMI of the personal loan that you want to borrow from the RBL Bank, and along with those manual calculations, there will also be errors, which you will be avoided by using this calculator.
  2. You could use this calculator as many times as you want to, and you can use it as a tool of comparison by comparing different values and tenures.
  3. You will not have to wait to know the results; you will find the results instantly.
  4. The outcome of the RBL Bank personal loan calculator will allow you to plan your monthly budget around the EMI and make wiser choices.

RBL Bank Personal Loan EMI Calculator - FAQs

Q1. What are the details that I need to enter on the RBL Bank personal loan calculator?

You will have to provide the principal you need, the tenure, and the rate of interest that the bank is offering you.

Q2. How many times can I use the RBL Bank personal loan interest calculator?

You can use this calculator as many times as you want to.

Q3. Will the RBL Bank personal loan calculator shows me the interest rate of the loan?

No, but the calculator will show you the interest amount over the loan based on the rate.

Q4. Does this calculator include the processing fee of RBL Bank?

No, it does not.

Q5. Can I use the RBL Bank personal loan calculator from my phone?

Yes, you can access this calculator from anywhere you wish to.

ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 3.2.4
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