Vijaya Bank is a nationalized bank that provides financial products like personal loans to customers at a reasonable rate of interest. You can use the personal loan amount to fulfill your urgent need of money like wedding expenses, education expenses or to pay the financial debts. Vijaya Bank personal loans offer you a flexible loan tenure by which you can pay the loan amount easily through different loan payment methods like ECS, PDCs & auto-debit. But to know your equated monthly loan installment (EMI) you need to use Vijaya Bank Personal Loan EMI Calculator. Know about the EMI calculator and its benefits in this article.
How can you use the Vijaya Bank Personal Loan EMI Calculator?
Visit the Vijaya Bank official page and on the side-bar click on “quick access” and when you’ll see the “EMI calculator” option on your desktop or mobile screen click on it and you’ll be directed to EMI calculator page. After that, you have to enter the loan details inside Vijaya Bank Personal Loan EMI Calculator, like your principal amount, loan tenure and interest rate. With that, it will generate the EMI instantly. The loan EMI calculator is an efficient tool that computes the monthly installment of your personal loan, using the formula [P x R x (1+R)^N]/[(1+R)^N-1].
Why to choose Vijaya Bank for your personal loan?
Vijaya Bank Personal Loan Interest Rates becomes more competitive after merging with the Bank Of Baroda, which increases the lending capacity of the bank. Anyone can avail a personal loan from Vijaya Bank whether a salaried, self-employed or pensioner and pay the borrowed loan amount up to 60 months. Vijaya Bank Personal Loan Interest Rates range from 11.35% to 16.35% and the bank charges a processing fee from the customer which is 0.25% of the borrowed amount.
The personal loan interest rates of Vijaya Bank depends on the market cost fund based lending rate (MCLR) and one year spread such as MCLR + 1-year spread + 5% to 8% (depending on the applicant CIBIL score). Otherwise, customers with a minimum relationship of 6 months with Vijaya Bank calculates the interest rate such as MCLR + 1-year spread + 3% to 6%. You can also reduce the burden of interest rate by prepaying the loan amount earlier and to know the effects of prepayment you can use Vijaya Bank Personal Loan EMI Calculator. The loan can be repaid after a predetermined 36 months EMI of your personal loan.
Apply for a Personal loan from Vijaya Bank
With the above mentioned details on Vijaya Bank personal loan, you can estimate that it will provide you efficient loan services. You can apply for the loan by going to your nearby Bank Of Baroda branch or through e-Vijaya/Bank Of Baroda official banking website. Follow the steps if you want to apply for a personal loan from the online service:
- Log in to your account and enter your KYC details inside the application form and click on the “submit” button.
- Otherwise, individuals who are not the customer of Bank Of Baroda or Vijaya Bank need to submit their personal details like phone number, email address, name, state and nearby branch.
- And a notification will be sent to your mail or mobile number if you are eligible for the loan.