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RattanIndia Finance 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.
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 RattanIndia Finance Personal Loan EMI Calculator Functions
An individual can easily know his/her EMI payout by using the RattanIndia Finance personal loan EMI calculator. Alternatively, you can also check EMI payout by using the Paisabazaar personal loan EMI calculator. The easy to use calculator helps you to know your future EMIs in advance so that you can manage your expenses accordingly. You simply have to select the desired loan amount, tenure and interest rate to know your EMIs.
Thus, an EMI calculator functions on the basis of the following 3 key parameters:
- Loan Amount: Loan amount/ principal is the amount of money that you borrow from the lender. You can avail a personal loan ranging between Rs. 1 lakh to Rs. 25 lakh from RattanIndia Finance. Generally, as the loan amount increases, the EMI payout also increases and vice versa.
- Tenure: It is the period over which you can repay your loan. RattanIndia Finance personal loans come with repayment tenure ranging between 12 to 72 months which borrowers can choose as per their own convenience. A longer tenure usually results in lower EMI payouts and vice versa.
- Interest Rate: It is the rate at which the lender charges interest on the amount borrowed. RattanIndia Finance personal loan interest rate starts at 13.50% p.a. A higher interest rate generally translates into higher EMI payouts.
RattanIndia Finance Personal Loan EMI Calculation
Given below are different possible EMI payouts with varying combinations of loan amount, tenure and interest rate.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
| 1 lakh | 15% | 12 | 9,026 |
| 2 lakh | 16% | 24 | 9,793 |
| 3 lakh | 14% | 36 | 10,253 |
| 4 lakh | 17% | 48 | 11,542 |
| 5 lakh | 18% | 60 | 12,697 |
Charges Levied on Non Payment of EMI
The following charges may be levied in case RattanIndia Finance personal loan EMIs are not paid on time:
| Particulars | Charges |
| ECS Failure Charges / Cheque Return Charges | Rs. 600 per instance |
| Late payment/Penal charges | 2% p.m. on the actuals and maximum of Rs 300 (whichever is higher) |
| Accrued Interest | As applicable based on actual delayed status or as communicated by the lender from time to time. |
Factors Affecting RattanIndia Finance Personal Loan EMI
Key factors which affect RattanIndia Finance personal loan EMIs are given below:
- Loan Amount: It refers to the principal amount that you borrow from RattanIndia Finance. The EMI payable generally increases with an increase in the loan amount and vice versa.
- Loan Tenure: It refers to the repayment period of your RattanIndia Finance personal loan. A shorter tenure generally means higher EMI payouts and vice versa. However, it may help you save on the overall interest payout of the loan.
- Interest Rate: It refers to the rate at which RattanIndia Finance offers a personal loan. The EMI payout generally increases with an increase in the interest rate and vice versa.
- Interest Calculation Method: The interest calculation method used by the lender also affects the EMI amount. Generally, EMIs calculated using the reducing balance method are slightly lower than those calculated using the flat rate method, if the loan parameters remain the same.
FAQs
Q. What is the maximum number of EMI payments that I make to repay my RattanIndia Finance personal loan?
RattanIndia Finance personal loan repayment tenure can range between 12 to 72 months. Thus, you can repay your personal loan in a maximum of 72 EMIs.
Q. Is it possible to foreclose my personal loan?
Yes, you can foreclose your personal loan after 6 months of loan disbursement along with the applicable foreclosure charges.