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Get up to ₹1,000*
Voucher on disbursal
PaySense Personal Loan EMI Calculator will help you to find out your Personal Loan EMI and interest cost based on your loan amount, tenure and interest rate. It will help you to choose your loan amount and loan tenure based on your repayment capacity.
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
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 |
Given below is a comparison of the monthly EMI payments of some popular lenders in India for different loan amounts, tenure and interest rates:
NBFC Name and Interest Rate | EMI Payout for Loanr | ||
Loan Amount of Rs. 50,000 | Loan Amount of Rs. 1 lakh | Loan Amount of Rs. 2 lakh | |
PaySense @ 16.80% p.a. | Rs. 4,555 | Rs. 9,111 | Rs. 18,222 |
MoneyTap @12.96% p.a. | Rs. 4,465 | Rs. 8,930 | Rs. 17,860 |
CASHe @ 33% p.a. | Rs. 4,948 | Rs. 9,897 | Rs. 19,794 |
EarlySalary@ 18% p.a. | Rs. 4,584 | Rs. 9,168 | Rs. 18,336 |
Home Credit @ 24% p.a. | Rs. 4,728 | Rs. 9,456 | Rs. 18,912 |
Money View @ 15.96% p.a. | Rs. 4,536 | Rs. 9,071 | Rs. 18,142 |
PaySense uses the reducing balance method to compute the EMI payable on its personal loans. The table below gives different possible EMIs with varying combinations of loan amount, interest rate and tenure.
Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
1 lakh | 17% | 12 | 9,120 |
2 lakh | 19% | 24 | 10,082 |
3 lakh | 20% | 36 | 11,149 |
4 lakh | 25% | 48 | 13,263 |
5 lakh | 18% | 60 | 12,697 |
The following charges may be levied in case PaySense personal loan EMI payments are not made on time:
Particulars | Charges |
Late Payment Charges | Rs. 500 + GST |
Some key factors which affect PaySense personal loan EMIs are:
Q1. Which method does PaySense use to calculate the interest payable on its personal loans?
PaySense uses the reducing balance method to calculate the interest payable on its personal loans.
Q2. How many EMI payments will I have to make in order to repay my PaySense personal loan?
PaySense personal loans come with a repayment tenure ranging between 3 to 60 months which borrowers can choose as per their own convenience. Thus, you can repay your PaySense personal loan in maximum 60 EMIs.
Q3. Can I repay my personal loan before the end of its complete tenure?
Yes, you can foreclose/ prepay your personal loan once you have successfully paid at least the first 3 EMIs. However, you will have to pay additional foreclosure charges of 4% of the principal outstanding in case you decide to do so.