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EMI Calculator
EMI Calculator
₹
%
Year(s)
EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Personal Loan Interest Rate Comparison of different Banks
| Banks/NBFCs | Interest Rates(p.a.) | |
| HDFC Bank | 10.85% onwards | Apply Now |
| Axis Bank | 11.25% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
How Nainital Bank Personal Loan EMI Calculator Functions
An EMI calculator can help you assess the EMI payable on your personal loan even before you apply for one and choose an appropriate loan amount and tenure that suits your budget. To know the amount you will be paying as EMI on Nainital Bank Personal Loan, you can take help of Paisabazaar’s personal loan EMI calculator. You simply have to enter the loan amount, interest rate and tenure correctly in the calculator and you would be able to see your EMI within seconds. You can try different combinations of key loan parameters to reach at a convenient EMI amount. An EMI calculator functions of the basis of the following three parameters:
- Loan Amount: Loan amount or principal is the amount of money that you borrow from the lender. Generally, as the loan amount increases, the EMI payout also increases and vice versa. With Nainital Bank you can avail a personal loan ranging up to Rs. 15 lakh.
- Interest Rate: It is the rate at which interest is charged on the loan amount. Nainital Bank offers personal loans at an interest rate starting at 10% p.a. Generally, as the interest rate increases, the EMI payout also increases and vice versa. However, the EMI payout also depends on the interest calculation method adopted by the lender.
- Loan Tenure: It refers to the loan repayment tenure. Nainital Bank personal loans can be repaid over a flexible tenure ranging up to 84 months. Usually, a longer repayment tenure leads to lower EMI payouts and vice versa.
Nainital Bank Personal Loan EMI Calculation
The following table gives various possible EMI payouts with different combinations of loan amount, tenure and interest rate.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
| 1 lakh | 10% | 12 | 8,792 |
| 2 lakh | 12% | 24 | 9,415 |
| 3 lakh | 14% | 36 | 10,253 |
| 4 lakh | 11% | 48 | 10,338 |
| 5 lakh | 13% | 60 | 11,377 |
How to Pay Nainital Bank Personal Loan EMI?
You can pay your Nainital Bank personal loan EMIs using any of the following means given below:
- Standing Instructions (SI)
- ECS mandate
- Post-dated Cheques (PDCs)
- By logging into your net banking account
Charges Levied on Non Payment of EMI
The following charges may be levied in case Nainital Bank personal loan EMIs are not paid on time:
| Particulars | Charges |
| Penal Charges for Late Payment of EMI | 2% on unpaid EMI |
| Deviation Charges | Rs. 3,500 for each deviation |
Factors Affecting Nainital Bank Personal Loan EMI
Here are a few key factors which affect Nainital Bank personal loan EMIs:
- Loan Amount: It refers to the principal amount that you borrow from Nainital Bank. Generally, a higher loan amount translates into higher EMI payouts and vice versa.
- Loan Tenure: It refers to the period over which you can repay your Nainital Bank personal loan. Generally, a longer tenure leads to lower EMI payouts and vice versa. However, a longer tenure may also increase the overall interest payout of the loan.
- Interest Rate: It refers to the rate at which the personal loan is offered by Nainital Bank. Usually, a higher interest rate results in higher EMI payouts and vice versa.
- Interest Calculation Method: The method of interest calculation used by the lender also affects the EMI payout. Generally, EMIs computed using the reducing balance method are slightly lower as compared to those computed using the flat rate method, provided loan parameters remain unchanged.
FAQs
Q1. Is it possible to autopay my Nainital Bank personal loan EMIs?
Yes, you can autopay your Nainital Bank personal loan EMIs by using the Standing Instruction (SI) or ECS facility.
Q2. How does Nainital Bank calculate the interest payable on its personal loans?
Nainital Bank uses the reducing balance method to calculate the interest payable on its personal loans. As per this method, interest is calculated only on the outstanding loan principal amount rather than the entire loan amount borrowed initially.
Q3. What is the maximum number of EMIs within which I can repay my Nainital Bank personal loan?
Nainital Bank personal loans come with a flexible repayment tenure ranging up to 84 months. Thus, you can repay your personal loan in a maximum of 84 EMIs.