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You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.
... Read MoreThe Muthoot Finance Personal Loan EMI Calculator is a free and easy-to-use online tool designed to help you estimate your monthly repayment amount before applying for a personal loan.
... Read MoreYou can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.
... Read MoreThe Muthoot Finance Personal Loan EMI Calculator is a useful tool for planning your loan repayment with clarity and confidence. Here are some key benefits of using a personal loan emi calculator:
Instant and Accurate Results
The calculator provides quick estimates of your monthly instalments based on the loan amount, interest rate, and loan tenure. It saves you from manual calculations and reduces the chances of errors.
Helps with Budget Planning
By knowing your EMIs in advance, you can assess whether the monthly repayments fit your budget. This enables better financial planning and helps to avoid repayment stress later on.
Easy Comparison of Loan Options
You can adjust the loan amount, interest rate, or tenure to see how each change affects your EMI. This allows you to compare different loan options and select the one that best suits your needs.
Time-saving and User-friendly
The calculator is easy to use and delivers results instantly. There is no need to enter complex formulas or download any software.
No Impact on Credit Score
Unlike checking loan eligibility through a lender, using the EMI calculator does not involve a credit check. You can use it freely without affecting your credit score.
Supports Better Loan Decisions
Knowing the EMI in advance allows you to borrow responsibly. It helps ensure that you choose a loan amount and tenure that you can comfortably repay.
You can calculate your EMIs using an online EMI calculator. Simply enter the loan amount, interest rate, and loan tenure. The calculator will display the monthly EMI along with the total interest payable.
Calculating the EMIs beforehand helps you understand the monthly repayment amount and assess whether it fits within your budget. It also allows you to compare different tenures and interest rates to make an informed decision.
You can use the EMI calculator as many times as needed. It is a helpful tool for trying different combinations of loan amounts, tenures, and interest rates to find a repayment plan that suits your finances.
The EMI depends on the interest rate and the repayment tenure you choose. For example, at 14.50% p.a. for 2 years, the EMI for ₹1 Lakh would be approximately ₹4,824.94. Use the calculator for precise figures based on current rates.
Muthoot Finance offers personal loans at interest rates starting from 14.50% p.a. However, the final rate may vary based on your credit score, income, and repayment capacity.
Assuming an interest rate of 14.50% p.a. for a 3-year tenure, the EMI for a ₹2 Lakh loan would be around ₹6,884.20. Actual EMIs may differ based on the chosen tenure and applicable interest rate.
At an interest rate of 14.50% p.a., the EMI for a ₹5 Lakh loan over 2 years would be approximately ₹24,124.71. The exact EMI can vary, so it is best to check using the EMI calculator with up-to-date values.
If you opt for a 2-year loan at 14.50% p.a., the EMI for ₹1.5 Lakh would be around ₹7,237.41. The EMI will vary based on the rate and tenure you choose.
For a ₹3 Lakh loan over 2 years at an interest rate of 14.50% p.a., the EMI would be roughly ₹14,474.83. You can fine-tune this by using the Muthoot Finance Personal Loan EMI Calculator.