IDBI Bank Personal Loan EMI Calculator

A personal loan can come to your rescue at the time of important financial needs like buying a house, or car, funding children's education, starting a business, covering medical expenses, etc. But before getting a personal loan, one crucial step is to determine how much monthly EMI you can afford, which ultimately helps in planning your monthly budget. If you are looking for a personal loan from IDBI Bank, you can use the IDBI Bank personal loan EMI calculator to calculate your monthly EMI.

The IDBI bank personal loan EMI calculator on the Angel One website is a user-friendly tool that is available for free. You can use the online calculator to determine the monthly EMI on your personal loan within seconds.

The working of the online personal loan EMI calculator is easy. All you need to do is just enter the basic information regarding your personal loan and the calculator will compute the important information like monthly EMI, total interest and total payable amount, including interest on the loan.

You can also try different combinations of the loan amount, interest rate and tenure of the loan to check which combination will work for your budget.

The IDBI Bank personal loan EMI calculator formula used to compute the monthly EMI is as follows,

EMI = P x r x {(1+r)^n}/{(1+r)^n-1}

Here,
P = Principal amount of the loan
r = Rate of interest on the loan
n = Tenure of the loan

The usage of the online IDBI personal loan EMI calculator on the Angel One website is simple and straightforward. Just follow the steps given below,

• Enter the loan amount you would like to borrow from IDBI Bank
• Enter the interest rate on the personal loan from IDBI Bank
• Enter the tenure of the personal loan from IDBI Bank

That’s it. You have your results displayed in less than a minute. The online IDBI Bank personal loan EMI calculator calculates the monthly EMI, the total interest amount and the total payable amount of the loan.

Let us use an example to understand the usage of the online IDBI Bank personal loan EMI calculator better.

If you want a loan of Rs. 2,00,000 for 2 years at an interest rate of 5%. Open the online EMI calculator and enter the required details as given below,

• Loan amount = Rs. 2,00,000
• Rate of interest = 5%
• Tenure of the loan = 2 years

The calculator computes the values and provides the results as,

Monthly EMI = Rs. 8,774
Loan amount = Rs. 2,00,000
Total interest = Rs. 10,583
Total payable amount = Rs. 2,10,583

• Financial planning - When you know how much EMI you need to pay every month, you can plan your budget accordingly. And you can know your approximate monthly EMI by using the online IDBI Bank personal loan EMI calculator.
• Access the affordability - By using the online IDBI Bank personal loan EMI calculator you can evaluate the affordability of the loan, i.e., you can check how much loan you can afford and also determine the tenure of the loan. If you opt for a higher tenure, then the monthly EMI can be less but the total interest you will be paying on the loan will be high. You can make such calculations and choose a loan that suits you well.
• Free to use - The online IDBI Bank personal loan EMI calculator is a free financial tool available on the Angel One website. You can use the calculator at any time from anywhere.
• Error-free calculations - Manual calculations are prone to errors, which can lead to making wrong decisions. Using an online IDBI Bank personal loan EMI calculator will save time and provide error-free results instantly.