AXIS Bank Personal Loan EMI Calculator
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Planning to take a personal loan from Axis Bank? One of the first things you’ll need to know is your monthly EMI (Equated Monthly Installment). This is where the Axis Bank Personal Loan EMI Calculator comes in.
In this guide, we’ll explain what the EMI calculator is, how to use it, and why it’s essential for your loan planning.
- What is the Personal Loan EMI Calculator?
- How Does the Axis Bank Personal Loan EMI Calculator Work?
- How to Use the AXIS Bank Personal Loan EMI Calculator
- Why Should You Use the Axis Bank Personal Loan EMI Calculator?
- Benefits of Using a Personal Loan EMI Calculator
- Explore Other Useful Loan Calculators
- Other Financial Tools You May Find Helpful
What is a Personal Loan EMI Calculator?
The Axis Bank Personal Loan EMI Calculator is an online tool that helps you calculate your monthly EMI. It’s a free, simple way to understand how much you’ll need to pay each month for your personal loan, based on the loan amount, interest rate, and tenure you choose.
This tool allows you to:
Know your monthly EMI in advance
Plan your budget better
Make informed decisions on loan amounts and repayment terms
How Does the AXIS Bank Personal Loan EMI Calculator Work?
Using the calculator is very simple. Here's how it works:
Enter the Loan Amount – The amount you wish to borrow.
Choose the Loan Tenure – The number of months or years you will take to repay the loan. Usually, Axis Bank offers a range of 12 to 60 months.
Enter the Interest Rate – Axis Bank’s interest rate on personal loans generally ranges from 10% to 24%, depending on factors like your credit score and income.
Once you input these details, the calculator will show:
Your monthly EMI
Total interest payable
Total amount payable (loan + interest)
Example Calculation
Let’s say you wish to take a personal loan of ₹3,00,000 for 3 years (36 months) at an interest rate of 12%.
Using the Axis Bank EMI calculator, the results will look something like this:
EMI: ₹10,621 (approx.)
Total Interest Payable: ₹83,400 (approx.)
Total Loan Repayment: ₹3,83,400
This means you’ll be paying ₹10,621 every month for the next 3 years to repay ₹3,00,000, plus ₹83,400 in interest.
How to Use the AXIS Bank Personal Loan EMI Calculator
Using the Axis Bank Personal Loan EMI Calculator is simple and takes just a few seconds. Here’s a step-by-step guide to help you:
Step 1: Visit the Calculator Page
Go to the official Axis Bank website and search for the Personal Loan EMI Calculator. You’ll find it under the “Loans” or “Tools & Calculators” section.
Step 2: Enter the Loan Amount
Type in the amount you want to borrow.
For example: ₹2,00,000
Step 3: Choose the Loan Tenure
Select how long you want to take to repay the loan.
You can choose between 12 to 60 months (1 to 5 years).
Step 4: Enter the Interest Rate
Fill in the interest rate offered by Axis Bank for your loan.
It usually ranges from 10% to 24% per annum.
Step 5: View Your EMI Details
Once you’ve filled in all the details, the calculator will instantly show you:
Monthly EMI
Total Interest Payable
Total Amount Payable (Loan + Interest)
You can adjust the amount, tenure, or interest rate to try different combinations and see what EMI suits your budget best.
Why Use the HDFC Bank Personal Loan EMI Calculator?
Here are some key reasons why you should use the EMI calculator before taking a personal loan:
Quick & Easy: You get your results instantly without needing to do any complicated calculations.
Better Budgeting: Helps you plan your finances by knowing exactly what your monthly EMI will be.
Compare Loan Options: You can experiment with different loan amounts, tenures, and interest rates to see how they impact your EMI.
No Surprises: You’ll have a clear picture of the total repayment amount and interest, avoiding any unexpected costs.
Benefits of Using a Personal Loan EMI Calculator
Saves Time: You don’t have to manually calculate EMIs or rely on complex formulas.
Helps with Financial Planning: Knowing your monthly EMI helps you plan your expenses and stay within your budget.
Helps in Loan Comparison: You can test different loan amounts, tenures, and interest rates to see which combination fits best for your needs.
Confidence in Decision-Making: With the EMI calculator, you can confidently apply for a loan that you can afford.
Explore Other Useful Loan Calculators
Apart from the personal loan EMI calculator, Axis Bank offers other financial calculators that you may find useful, such as:
Home Loan EMI Calculator
Car Loan EMI Calculator
Loan Eligibility Calculator
Other Financial Tools You May Find Helpful
Besides the Personal Loan EMI Calculator, Axis Bank offers several other useful financial tools to help you make smarter money decisions. Here are a few you might want to explore:
Loan Eligibility Calculator
Find out how much loan you’re eligible for based on your income, expenses, and existing liabilities. This helps you avoid applying for a loan that might get rejected.
Home Loan EMI Calculator
Planning to buy a home? This tool helps you calculate EMIs for home loans based on loan amount, tenure, and interest rate. It’s perfect for long-term financial planning.
Car Loan EMI Calculator
If you’re buying a new or used car with a loan, this calculator shows your monthly EMI, helping you choose the right repayment period.
FD (Fixed Deposit) Calculator
Helps you calculate the interest earned and maturity amount on your fixed deposits. It’s useful for planning short- or long-term savings.
SIP Calculator
Want to invest in mutual funds via SIPs (Systematic Investment Plans)? This tool tells you how much your money can grow over time, based on your monthly investment and expected return.
Income Tax Calculator
Estimate your annual income tax liability based on your income, deductions, and tax slab. Great for tax planning and saving under sections like 80C.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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