What Does a Citibank Personal Loan EMI Calculator Do For You?

We all are looking for a way to make our loan repayments easier and affordable and knowing our hustle for a lower EMI Citibank introduces the Citibank Personal Loan EMI Calculator. An online tool that is designed to give an output of your EMI repayments. All you need to do is to enter your loan details inside the calculator. Let’s read and find out the benefits of using the Citibank personal loan EMI calculator.

List of Benefits

  • The period of repayment will affect the size of your EMIs, so if you want a smaller EMI, you should repay your loan over a longer-term.
  • With Citibank personal loan affordable interest rate starting from 9.99% per annum your interest outgo will be less
  • You can choose a suitable tenure from 12-60 months, so your repayment will be according to your convenience
  • The Citibank personal loan interest rate is fixed, which means this will not change during the repayment period even if the bank lending rate changes.
  • You can prepay your Citibank personal loan with the help of an EMI calculator as you know what amount you will save from it.
  • Your Citibank personal loan EMI due date is the first of every month, following the month of loan disbursement. And if you use the Citibank personal loan EMI calculator, these payment instructions will be easy to manage. However, the bank doesn’t charge any late payment.
  • Even before purchasing the loan, you can view your current loan balance via the online Citibank personal loan EMI calculator.

Citibank Personal Loan EMI Calculator Illustration

Madhurima Bhatt has been tackling a financial issue and due to that, it is impossible for her now to meet the household expenses. She decided to borrow a loan. After searching a number of loan products her eyes are now at Citibank personal loan. Madhurima is impressed with the offered loan amount range, Citibank personal loan interest rate and their quick disbursal in 48 hours service.

But before making up her mind completely for the Citibank personal loan, Madhurima uses its online EMI tool. She visits the Citibank official website accessed the Citibank personal loan EMI calculator and entered the following details:

  • Loan Amount – 15,00,000
  • Interest Rate – 10.45% per annum
  • Tenure – 60 months
Loan Amount Interest Rate Repayment Period EMI Interest Payout Balance Loan at the end of the year
15,00,000 10.45% 1 32,204 1,45,423 12,58,978
15,00,000 10.45% 2 32,204 1,18,994 9,91,527
15,00,000 10.45% 3 32,204 89,667 6,94,750
15,00,000 10.45% 4 32,204 57,125 3,65,430
15,00,000 10.45% 5 32,204 21,014 0

From the above table, you can see how the interest payout is decreasing with the loan maturity. This means that your interest burden will reduce with time as you repay the loan.

Apply for Citibank personal loan

If you are in any financial situation where you require a lump sum of money, don’t hesitate and borrow the Citibank personal loan. Visit your nearest Citibank or go to its official website if you want to apply.