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# IDBI Personal Loan EMI Calculator - May 2017

Last Updated 24th May 2017

## IDBI Bank Personal Loan Calculator

Lowest EMI on IDBI Bank Personal Loan - Rs. 2,286 per lakh

Loan Tenure
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
Personal Loan EMI Calculator
Rs.

### 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

P*r* (1+r)^n/([(1+r)^n]-1)

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 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

What is the lowest EMI per lakh offered by IDBI Bank on personal loan?

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
Agra 1800-200-1947
Ambala 1800-200-1947
Anand 1800-200-1947
Bangalore 080 2238 6757
Bhilai 1800-200-1947
Bhilwara 1800-200-1947
Bhopal 1800-200-1947
Bhubaneswar Cuttack 1800-200-1947
Bikaner 1800-200-1947
Chandigarh 1800-200-1947
Chennai 044 4303 6648
Cochin 1800-200-1947
Coimbatore 1800-200-1947
Delhi 011 2399 4348
Durg 011 2399 4348
Gandhinagar 022 2207 8732
Goa 0832 242 6525
Greater Noida 0120 270 0798
Gurgaon 0120 270 0798
Guwahati 1800-200-1947
Gwalior 1800-200-1947
Indore 1800-200-1947
Jabalpur 1800-200-1947
Jaipur 1800-200-1947
Jalandhar 1800-200-1947
Jodhpur 1800-200-1947
Kanpur 022 2207 8732
Karnal 1800-200-1947
Kolhapur 022 2207 8732
Kolkata 033 2568 6253
Kota 1800-200-1947
Kozhikode 1800-200-1947
Lucknow 1800-200-1947
Ludhiana 1800-200-1947
Meerut 1800-200-1947
Mehsana 1800-200-1947
Mohali Sas Nagar 1800-200-1947
Mumbai 022 2207 8732
Mussoorie 1800-200-1947
Nagpur 022 2207 8732
Nashik 022 2207 8732
Noida 0120 270 0798
Noida Extn 0120 270 0798
Panipat 1800-200-1947
Patna 1800-200-1947
Pondicherry 1800-200-1947
Pune 020 6603 0300
Raipur 1800-200-1947
Rajkot 1800-200-1947
Ranchi 1800-200-1947
Rohtak 1800-200-1947
Roorkee 1800-200-1947
Salem 044 4303 6648
Shimla 1800-200-1947
Sonepat 1800-200-1947
Surat 1800-200-1947
Trichy 1800-200-1947
Udaipur 1800-200-1947