Get the EMI amount in seconds and plan your monthly instalments toward your loan with Fibe’s Personal Loan EMI Calculator online.
Manually calculating your EMI can be tedious and time-consuming, so using an EMI calculator online is ideal. Our Personal Loan EMI Calculator enables you to get an estimate of your EMI without hassles. It helps you figure out your payouts beforehand and manage your loan repayment better.
1. Visit our official website or download the Fibe App and navigate to the ‘Personal Loan EMI Calculator’
2. Adjust the slider to choose the loan amount you wish to borrow
3. Then select the interest rate in % and the tenure in months
4. Your payable EMI amount will be displayed on the screen
This online tool is free to use as many times as you wish. You just need to move the sliders and adjust them to enter the exact inputs.
You can use Fibe’s Personal Loan EMI Calculator to determine the monthly instalment amount. Just provide the loan amount, interest rate and repayment tenure to get the EMI amount in seconds.
EMI or Equated Monthly Instalment is the monthly payout a customer needs to make against the loan. It is generally a sum of the principal amount and interest paid on a loan that is repaid over a tenure of the customer’s choosing.
Below are the factors that affect loan EMI amount:
EMI Calculators help in choosing the right loan option. It gives you an understanding of how much your monthly instalment will be and how to plan your finances better.
An EMI calculator is a financial tool that helps you to calculate your EMI amount before applying for a loan. It can be used for multiple types of loans such as personal loans, home loans, etc.
You can calculate the EMI amount by following a few simple steps mentioned below:
The EMI calculator works on different factors like loan amount, tenure and interest rate. Once you provide the details, it instantly shows you the EMI amount which needs to be paid monthly toward your loan.
You can find out the your loan interest rate using the below formula:
Rate = Annual Rate of Int./12/100
To calculate the EMI amount, you need loan amount, interest rate and tenure. In this case, the principal amount is ₹5 lakh (P), interest rate is 2% (r) per month and 5 years (n) is the tenure.
You can use a personal loan EMI calculator to get the exact EMI amount in seconds or use below formula:
EMI = (P * r * (1 + r)^n) / ((1 + r)^n – 1)
The EMI amount will be ₹11,236/month in the above illustration.
If your EMI payment is missed, the lender can charge you late fees, your credit score can be negatively affected and there can be additional charges and increase in your monthly interest rate.
Defaulting on loan payments is very serious as it can have a lasting impact on your finances. This is because consistent non-payment of a loan can lead to legal repercussions. Thankfully, there are a few borrower’s rights to help you navigate this situation. In such a situation it is critical to know the rights that all …
Continue reading “Loan Default? Must Know Borrower’s Rights That Will be Useful”
On assessing the key facts about a loan, you may find yourself wondering, ‘What is a moratorium period?’. Simply put, it is a facility for managing your repayment during tough times. It comes into play when you are unable to pay your EMIs and it can offer some respite. Here, you don’t have to pay …
Continue reading “What is a Moratorium Period? A comprehensive overview”
Do you know how the repo rate increase affects your personal finances? When you apply for a loan, lenders levy an interest rate. However, this isn’t a random number but a carefully calculated rate based on the prevailing repo rate and the institution’s policy. Here are some essential points that you need to know: What …
Continue reading “How Does Repo Rate Affects Interest Rates of Personal Loans?”
Download he Fibe App the cool new vibe to finance to avail of the loan in just a few clicks from anywhere