IDBI Personal Loan EMI Calculator - Jun 2017
IDBI Bank Personal Loan Calculator
Lowest EMI on IDBI Bank Personal Loan - Rs. 2,286 per lakh
|Loan Amount (Rs.)||2 Years||3 Years||5 Years|
|100,000||Rs. 4,764||Rs. 3,379||Rs. 2,286|
|300,000||Rs. 14,291||Rs. 10,137||Rs. 6,857|
|500,000||Rs. 23,818||Rs. 16,895||Rs. 11,428|
|1,000,000||Rs. 47,636||Rs. 33,790||Rs. 22,856|
Factors affecting IDBI Personal Loan EMI
- Borrower age should be between 22 years to maximum 60 years.
- Maximum personal loan amount offered by IDBI Bank is upto Rs. 1,000,000.
- Interest rates range from 13.20% to 13.75% depending upon customer profile, loan amount and other factors.
- Processing fee in IDBI Bank may be 1% of loan amount.
IDBI Personal Loan EMI
- Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to IDBI Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
- With IDBI Bank offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,286 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by IDBI Bank are as low as 13.20%.
- This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.
IDBI Bank Personal Loan calculator formula
Here is an illustration of how IDBI Bank Personal Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 50,000 to Rs. 1,000,000
r = Rate of interest per month. Current rate is 13.20%
n = tenure in month. For IDBI Bank, this can be 60 months
Personal loan EMI calculator IDBI - How it works?
- IDBI Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
- IDBI Bank personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.
Personal Loan EMI - EMI Changes in case of prepayment
- In case you prepay your personal loan, the outstanding balance on your personal loan reduces. IDBI gives you two options:
- Reduce your loan tenure and keep your personal EMI same
- Reduce the amount of EMI and keep your loan tenure same It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the IDBI in this option.
Frequently Asked Questions on IDBI EMI Calculator
IDBI Bank offers personal loan at 13.20% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,286.Can I prepay my IDBI Bank personal loan?
IDBI Bank offers you an option of prepayment after 1 months at Nil prepayment charges.Is there any processing charge on personal loan from IDBI Bank?
Personal Loan from IDBI Bank charges a processing fee of 1%.
IDBI Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
|City||Customer Care Number|
|Aurangabad||022 2207 8732|
|Bangalore||080 2238 6757|
|Chennai||044 4303 6648|
|Delhi||011 2399 4348|
|Durg||011 2399 4348|
|Faridabad||011 2399 4348|
|Gandhinagar||022 2207 8732|
|Ghaziabad||0120 270 0798|
|Goa||0832 242 6525|
|Greater Noida||0120 270 0798|
|Gurgaon||0120 270 0798|
|Hyderabad||040 6690 8171|
|Kanpur||022 2207 8732|
|Kolhapur||022 2207 8732|
|Kolkata||033 2568 6253|
|Mohali Sas Nagar||1800-200-1947|
|Mumbai||022 2207 8732|
|Nagpur||022 2207 8732|
|Nashik||022 2207 8732|
|Noida||0120 270 0798|
|Noida Extn||0120 270 0798|
|Pune||020 6603 0300|
|Salem||044 4303 6648|