How Does IndusInd Bank Personal Loan EMI Calculator Estimate Your Repayment?

We often have trouble with the loan repayment process, so to give customers a useful solution IndusInd Bank provides access to the EMI calculator. The IndusInd Bank Personal Loan EMI Calculator is a tool that generates EMI amount based on the loan amount, selected tenure, and applicable IndusInd Bank Personal Loan Interest Rate. If you want to learn more about the IndusInd Bank Personal Loan EMI Calculator, read this article below.

Steps to Use the IndusInd Bank Personal Loan EMI Calculator

  1. Visit the IndusInd Bank website
  2. Select ‘Personal Loan’
  3. Click the ‘Calculator’ button
  4. Enter the loan amount, interest rate, and tenure
  5. Click the ‘Calculate’ button

Benefits of Using the IndusInd Bank Personal Loan EMI Calculator

With the help of IndusInd Bank Personal Loan EMI Calculator, you can manage your repayments according to your income and can do more like the following –

  • Reduce Interest Payout – You can reduce the IndusInd Bank Personal Loan Interest Rate payout with the help of this EMI calculator, you just need to choose a tenure where the interest payout is less than the other tenures. And just like that, you can reduce your interest outgo on your IndusInd Bank Personal Loan. 
  • Get Affordable EMIs – When you already have some current obligations, it must be difficult for you to manage the IndusInd Bank Personal Loan EMI, so to help you with that EMI calculator comes in the picture. Using the IndusInd Bank Personal Loan EMI Calculator, you can choose a tenure where the EMI amount is according to your desire. 
  • Prepay/Foreclose – With the help of the IndusInd Bank Personal Loan EMI Calculator, you can also plan your loan prepayment or foreclosure. The calculator helps you know the amount you’ll save from the prepayment or foreclosure, excluding the prepayment/foreclosure charges. 
  • Improve Credit History – The IndusInd Bank Personal Loan EMI Calculator not only helps you in the present but also in your future. As with the help of the calculator, you have repaid your loan successfully. And this smooth repayment of personal loans will impact your credit history in a positive way, which will increase your credit score. Later this improved credit score will help you get lower interest rates on loans.

Illustration

Mrs. Kalawati Sharma runs her family day to day needs and also works in a corporate office. She manages her home and works swimmingly, but due to a sudden medical emergency, a need for a lump sum arises. To get the lump sum amount for the medical expense she applied for IndusInd Bank Personal Loan. But as you know Mrs. Kalawati Sharma is a practical woman, so she doesn’t want her one wrong move to put her family in debt, so she uses IndusInd Bank Personal Loan EMI Calculator to choose a suitable tenure. She enters the following details inside the calculator 

  • Loan amount – INR 10 lakh
  • Interest Rate – 11.5% per annum
  • Loan Tenure – 48 months

As per the calculation of the IndusInd Bank Personal Loan EMI Calculator, Mrs. Kalawati Sharam needs to pay INR 26,089 EMI and the total interest outgo will be INR 2,52,273.

Note – IndusInd Bank Personal Loan EMI Calculator generated EMI won’t be the exact amount of EMI, your IndusInd Bank Personal Loan EMI will change depending on the date of loan disbursement.