Is there something that you want to buy but have been pushing forward for ages because you don’t have enough money at times or are you facing any sudden need of funds? You can solve all your fund related emergencies and any other problem by opting for a Personal loan facility. This facility can be opted by any individual with having a stable source of income and it is provided by several banks and financial companies at an affordable rate of interest. Bandhan Bank is one of the leading private banks that provide a wide array of banking products but here, we will be telling you about its Personal loan facility.
Bandhan Bank loan interest rate comes across as one of the most affordable interest rates in the market which makes it the first choice for the individuals who want to opt for a personal loan. Why? Because of the crucial part of the Bandhan Bank loan interest rate in determining your EMI (Easy Monthly Installments) amount. Talking about the EMI amount, have you figured out what will be a suitable EMI amount according to your monthly income and repayment capability? In case you haven’t, then let me introduce you to the Bandhan Bank Loan EMI Calculator with which you can calculate your EMI amount based on your details.
What are the details that you will need to fill in the Bandhan Bank Loan EMI Calculator?
There are only three basic details that you will need to fill in this amazing tool to calculate your EMI amount. You can have a detailed look at them below.
Fund Amount that you need: The first thing will be the loan amount that you want to opt for. You can opt for the amount ranging from a minimum of INR 1 lakh to the maximum of INR 5 lakh. Now you know the amount bracket that you can get, just fill the desired amount in the required space. You need to remember that, you must choose this amount in sync with your repayment capability otherwise you may find some difficulties in repayment.
Rate of Interest: The second and most important thing that you will need to fill in the calculator is the Bandhan Bank loan interest rate which ranges from 15% to 16.10% per annum to both salaried and self-employed individuals. It also depends on several factors such as your age, monthly income, job stability, employment type, and CIBIL score.
Tenure: The third and last thing to fill in the calculator is the number of years for you want to repay the loan amount. Bandhan Bank provides the loan amount for a period of 12 months to a maximum of 36 months. Try to choose this period short if possible, because a longer period may cost you more interest.
After filling all these details into the Bandhan Bank loan EMI calculator, it will give you the correct EMI amount by which you can have an estimate about if this loan amount will be suitable for you. If there is a need to stretch the loan amount up or down, you can check the EMI amount with different values for as many times as you want. Also, Bandhan Bank provides the loan amount into your bank account within 2 working days if everything goes right.
Eligibility Criteria for Bandhan Bank Personal Loan:
You can have a look at the necessary conditions mentioned below.
- This can be availed by both the salaried and self-employed individuals.
- The age criteria range from 21 to 60 years of age.
- Individual must have a minimum relationship of 6 months with Bandhan Bank.
- The account should be operational with at least one entry per month.
- The applicant must have a regular source of income.