- Accurate, instant and time-saving.
- User friendly tool with simple input boxes for interest rate, loan amount and loan tenure.
- Free of cost and highly accessible.
- Parameters can be modified.
- Helps in determining the financial situation of the prospective borrower and plan repayments effectively.
IndusInd Bank Personal Loan EMI Calculator
Calculate Your Personal Loan EMI
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IndusInd Bank Personal Loaan EMI Calculator- Features
Comparison of IndusInd Bank Personal Loan EMI with Top Banks
| Lenders | Interest rate (% p.a.) | Loan Amount – Rs. 5 lakh Tenure – 5 years | Loan Amount – Rs. 1 lakh Tenure – 5 years |
|---|---|---|---|
| IndusInd Bank | 10.35 - 16.50 | 10,710 - 12,292 | 2,142 - 2,458 |
| YES Bank | 13.00 - 16.00 | 11,377 - 12,159 | 2,275 - 2,432 |
| HDFC Bank | 9.99 - 12.50 | 10,621- 11,249 | 2,124 - 2,250 |
| Tata Capital | 11.50 onwards | 10,996 onwards | 2,199 onwards |
| ICICI Bank | 11.00 - 13.00 | 10,871-11,377 | 2,174-2,275 |
| Bank of Baroda | 10.40-18.10 | 10,722-12,724 | 2,144-2,545 |
| Axis Bank | 9.99 - 17.15 | 10,621 - 12,467 | 2,124 - 2,493 |
| Kotak Mahindra Bank | 10.5 - 17.20 | 10,747-12,480 | 2,149 - 2,496 |
| Bank of India | 11.10-16.15 | 10,896-12,199 | 2,179-2,440 |
| Canara Bank | 9.95-15.40 | 10,611-12,000 | 2,122-2,400 |
What are the Benefits of Using IndusInd Bank Personal Loan EMI Calculator
Some major benefits of using IndusInd Bank Personal Loan EMI Calculator are as follows:
Quick and Accurate Results
IndusInd Bank Personal Loan EMI Calculator helps prospective borrowers to calculate their personal loan EMIs without performing complicated calculations using complex formulas. Hence, the results are accurate, unlike manual calculations.
Budget Management
Because the EMI amount for personal loans availed at fixed interest rates remain constant during the entire tenure of the loan, the applicants can use IndusInd Bank Personal Loan EMI Calculator to find the exact amount they have to repay every month. This way, they also get the chance to adjust their monthly expenses accordingly to fit in the EMI amount.
Healthy Credit Score
IndusInd Bank Personal loan applicants who use the personal loan EMI calculator to calculate their monthly installments would be better prepared when it comes to managing their finances for loan repayments within the given tenure. Such applicants would also have fewer chances of defaulting on their EMIs, which in turn will help improve or maintain their credit scores.
Improve Personal Loan Eligibility
Lenders usually approve the personal loan applications of applicants who have a strong debt-to-income ratio. Personal Loan EMI Calculator gives a fair idea of the EMIs to the applicants. The applicants having a weak debt-to-income ratio would be able to reduce the EMI when making their personal loan application, thereby, improving their personal loan eligibility.
IndusInd Bank Personal Loan Amortisation Schedule
Suppose you borrow a loan of Rs. 10 lakh @ 10.35% p.a. for a tenure of 5 years, then the following will be your amortization schedule for 1 year. For the remaining period, the principal component will continue to increase at the same pace, while the interest portion will gradually decrease.
| Month | Opening Balance | EMI (₹) | Interest (₹) | Principal (₹) | Closing Balance (₹) |
|---|---|---|---|---|---|
| 1 | 10,00,000 | 21,959 | 8,625 | 13,334 | 9,86,666 |
| 2 | 9,86,666 | 21,959 | 8,505 | 13,454 | 9,73,212 |
| 3 | 9,73,212 | 21,959 | 8,397 | 13,562 | 9,59,650 |
| 4 | 9,59,650 | 21,959 | 8,280 | 13,679 | 9,45,971 |
| 5 | 9,45,971 | 21,959 | 8,172 | 13,787 | 9,32,184 |
| 6 | 9,32,184 | 21,959 | 8,037 | 13,922 | 9,18,262 |
| 7 | 9,18,262 | 21,959 | 7,920 | 14,039 | 9,04,223 |
| 8 | 9,04,223 | 21,959 | 7,796 | 14,163 | 8,90,060 |
| 9 | 8,90,060 | 21,959 | 7,676 | 14,283 | 8,75,777 |
| 10 | 8,75,777 | 21,959 | 7,556 | 14,403 | 8,61,374 |
| 11 | 8,61,374 | 21,959 | 7,432 | 14,527 | 8,46,847 |
| 12 | 8,46,847 | 21,959 | 7,301 | 14,658 | 8,32,189 |
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How to Use IndusInd Bank Personal Loan EMI Calculator
Step-by-step process of using IndusInd Bank Personal Loan EMI Calculator:
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FAQs
How can I calculate my personal loan EMI using IndusInd Bank personal loan EMI calculator?
You can calculate your monthly instalments using IndusInd Bank personal loan EMI calculator by entering the loan amount, interest rate and repayment tenure in the calculator available and click ‘calculate’.
Is IndusInd Bank personal loan EMI calculator cost-inclusive?
No, IndusInd Bank personal loan EMI calculator is free of cost.
Why should I use IndusInd Bank personal Loan EMI calculator?
IndusInd bank personal loan EMI calculator helps in comparing loan options, assess loan affordability and plan the budget to save enough for future EMIs.
Is it possible to adjust the parameters of an EMI calculator?
Yes, you can adjust the parameters of a personal loan EMI calculator.
What would be the EMI of Rs. 10 lakh personal loan availed @ 10.35% p.a. for 5 years?
The EMI of Rs. 10 lakh personal loan availed @ 10.35% p.a. for 5 years would be Rs. 21,420.
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