Calculate Personal Loan EMIs using a Personal Loan EMI Calculator
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Month |
Opening principal outstanding |
Interest paid |
Principal repaid |
Resulting principal outstanding |
1 |
Rs. 2,00,000 |
Rs. 4,667 |
Rs. 31,441 |
Rs. 1,68,559 |
2 |
Rs. 1,68,559 |
Rs. 3,933 |
Rs. 32,175 |
Rs. 1,36,384 |
3 |
Rs. 1,36,384 |
Rs. 3,182 |
Rs. 32,926 |
Rs. 1,03,458 |
4 |
Rs. 1,03,458 |
Rs. 2,414 |
Rs. 33,694 |
Rs. 69,764 |
5 |
Rs. 69,764 |
Rs. 1,628 |
Rs. 34,480 |
Rs. 35,284 |
6 |
Rs. 35,284 |
Rs. 823 |
Rs. 35,285 |
Rs.0 |
You can choose to repay your IIFL Personal Loan EMI through any of the following ways:
Net banking
App
Wallets, such as GPay, PhonePe and more
You can opt for personal loan prepayment to lower the cost of borrowing. Since this feature allows you to reduce your principal corpus, you can enjoy lower EMIs after prepaying your loan. With IIFL, you do not have to pay any charges for prepayment or foreclosure. This ensures your overall cost of borrowing stays minimum.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
FAQs on IIFL Personal Loan EMI Calculator
How to calculate IIFL Personal Loan EMI?
You can apply the EMI formula or use an online personal loan EMI calculator to compute your personal loan EMIs. This online tool is easy to use and displays accurate results within seconds.
What is the EMI for Rs.20 Lakhs Personal Loan in IIFL Bank?
The EMI of Rs.20 lakhs personal loan in IIFL would depend on the interest rate and loan tenure. Thus, you need to know for how long you would be planning on taking a loan. For instance, if you take a loan for a tenure of 10 years at an interest rate of 12% per annum, your EMI would be Rs. 28,694.
What is the minimum credit score to avail an IIFL Personal Loan?
750 is considered a good credit score. Hence, maintaining this score will help you in obtaining the loan with ease.
What are the methods of paying IIFL Personal Loan EMI?
You can choose to repay your loan either online, through net banking or online wallets.
Can we pay more than the EMI in IIFL Personal Loan?
Yes, you can choose to pay more EMIs as per your convenience. However, consider talking with bank authorities before opting for this feature.
