Debts or Loans are often seen as a negative thing. People are generally apprehensive about taking personal loans for their financial urgency. This perspective doesn’t hold true if you are clear about things, like – EMI payments, tenure of the loan, Expenditure, Savings and more so. All you need is a little bit of planning and management. You’ll be expected to make firm decisions in terms of cost cutting when you go for a personal loan option.
Axis Bank, one of the promising players in the Indian Personal Loan market, puts forward an interesting personal loan option for all your special needs. It caters from educational needs to wedding expenses to travel wants to every big and small financial need. Axis Bank offers a loan amount between INR 50,000 – 15,00,000. The rate of interest can vary between 16%-24%. You can demand a low rate of interest based on your CIBIL score. Further, in case you decide to prepay the loan, you won’t have to pay any foreclosure charges. To help you have better clarity with planning and management, the bank has an Axis Bank Personal Loan EMI Calculator in place.
Benefits of Axis Bank Personal Loan EMI Calculator:
Helps you in Planning: Planning and Management are two most important aspects when you want to take a loan. This helps you avoid unnecessary charges and meet your financial objective without any obstacles. In order to reach your financial objective, you have to strike a balance between your expenses and savings. You will have to keep your toes under the sheet. You can’t be living the luxury life while paying the EMIs.Servicing loans shout top your priority list. The loan EMIs should not exceed more than 15% of your net income in case of personal loans.
Helps you choose Short Tenure: The Axis Bank Personal Loan EMI Calculator helps you choose the tenure for your loan. Remember, the longer the tenure the longer is the interest burden. That’s why try keeping the tenure sweet and short. This can again be done by balancing your expenses and savings. Borrowers are often lured into the trap of taking loans for higher longer duration baiting them with low EMI payments. This is a trap because you end up paying way more interest.
Easy To Access: The Axis Bank Personal Loan EMI calculator is very easy to use even if you’re not that technologically sound. You don’t need to be a professional to use it. It is designed to be used by anyone. All you have to do is to enter the loan amount you want from the bank (any amount between INR 50,000-15,00,0000). After that you will have to wisely choose the loan tenure – keep it short and sweet. Once done, choose the minimum interest rate offered and bingo!
Super Quick Results: The moment you enter all the three details, you’ve your results within split seconds.
Axis Bank Personal Loan EMI calculator is an effective loan planner. You use this calculator on Axis Bank’s website for free. Some financial technology companies also let you plan out your loans by using their free calculator.