Can Canara Bank Personal Loan EMI Calculator Help Manage Your Repayment?

Yes, using the Canara Bank Personal Loan EMI Calculator you can repay the borrowed loan as per your convenience. Canara Bank provides you full flexibility to choose your loan tenure. So don’t worry about your current obligations if any, because using the Canara Bank Personal Loan EMI Calculator, you can choose a suitable repayment period for yourself. Let’s read this article and learn more about the features and benefits of Canara Bank Personal Loan EMI Calculator.

How to Use Canara Bank Personal Loan EMI Calculator?

Visit the Canara Bank official website and select the option ‘others’ from the side bar, you’ll see the ‘EMI Calculator’ button. Click the ‘Canara Bank Personal Loan EMI Calculator’ button and follow the instructions below:-

  • Enter your loan amount
  • Number of months you want to repay the loan
  • Canara Bank Personal Loan Interest Rate

Why Should You Use Canara Bank Personal Loan EMI Calculator?

You should use Canara Bank Personal Loan EMI Calculator while borrowing loan from Canara Bank, because it helps you estimate your monthly installments and also due to the following reason –

  • Lower EMI – With the help of Canara Bank Personal Loan EMI Calculator, you can choose a tenure where your EMI amount fits just right in your budget. So better than compromising on your other obligations, you should use Canara Bank Personal Loan EMI Calculator to get the perfect EMI amount.
  • Less Interest Payout – Every single borrower is worried about the interest payout. But you don’t have to tackle such problems at Canara Bank, because it offers an affordable range of Canara Bank Personal Loan Interest Rate ranging from 11.25-13.30% per annum. And if you are still worried, use Canara Bank Personal Loan EMI Calculator and find at which tenure there are more possibilities of getting a lower interest payout.  
  • Easy Prepayment Planning – If you are thinking about doing prepayment of your Canara Bank Personal Loan, the Canara Bank Personal Loan EMI Calculator comes in handy. As using the calculator, you can find what amount you’ll save if you do so. 
  • Early Closure – When you are planning to close your loan earlier than its maturity, Canara Bank Personal Loan EMI Calculator can help you in this. As using the tool, you can find the balance loan amount and know what amount you have saved from the foreclosure of Canara Bank Personal Loan.
Illustration of Canara Bank Personal Loan EMI Calculator Usage

Rohan is the only working member in his family and due to a sudden medical contingency he needs a lump sum of funds. He told about his financial situation to a friend and he suggested Rohan to borrow Canara Bank Personal Loan. So he did the same and applied for the Canara Bank personal loan. He’s eligible for a loan up to INR 3 lakh and gets an interest rate of 11.30% per annum. Now it’s time Rohan chooses the loan repayment tenure and he needs a tenure where his EMI is affordable and interest outgo is less. So he takes assistance of Canara Bank Personal Loan EMI Calculator and chooses a tenure of 48 months where his EMI is INR 7,797 and the total interest payout is INR 74,277.

Note – In the above illustration the interest amount and EMI exclude GST and applicable taxes.