IDBI Bank provides personal loans to you for a maximum of 5 years, and with the instant service, you can meet your financial needs. You can plan the payment of your loan via the IDBI bank personal loan EMI calculator. How does it work? It generates the EMI using the interest rate and loan amount. Read the given article to know what are the benefits of the IDBI EMI calculator.
For payment take help of IDBI Bank personal loan EMI calculator!
Using the online tool, you can choose a suitable tenure for the loan. IDBI Bank provides up to 60 months to the borrower to pay the charged interest rate and borrowed amount. And the IDBI bank personal loan interest rate starts from 13.59% per annum. To get the approximate EMI amount of your loan, you need to mention a few of the details such as the borrowed amount, interest rate and tenure. For example, if you have borrowed INR 4 lakh from IDBI Bank at an interest rate for 14.00% per annum your EMI would be INR 9,307 for 5 years.
Is the EMI calculator makes my IDBI bank personal loan interest rate affordable?
Yes, with the help of the IDBI bank personal loan EMI calculator you can convert a high-interest rate into an affordable EMI. Suppose, you get an IDBI bank personal loan interest rate of 17.00%, then in that case, you must increase the tenure. Because the borrower can easily fit the EMI in his income otherwise, it would be difficult for him to pay the loan in a shorter tenure. IDBI Bank provides 5 years maximum to pay the loan with the charged interest rate.
What are the ways to Pay IDBI Bank personal loan?
You can pay the loan using cheque or banking services such as ECS and Standard Instruction. After the approval of a loan, you can meet your instant money needs like medical emergencies, marriage expenses and other money requirements. As IDBI makes your money needs successful, then now it’s the borrower’s turn to pay the loan amount. If you are an IDBI customer, you can use Standard Instruction using which the EMI amount is debited from the IDBI account automatically before the due date.
The same benefit you can get if you aren’t an IDBI customer using the ECS in which the borrower can pay the loan EMI using any other bank account. And with the help of the post dated cheques, you can submit it to the nearest IDBI branch for worry free payments.
Advantage of the timely payment on IDBI Bank personal loan!
You can be privileged to many benefits if you pay the loan amount, and the benefits are the pre-approved loan offers and strong credit history. Now, whenever you apply for a personal loan from IDBI bank don’t forget to take the help of IDBI bank personal loan EMI calculator, because with it, you can pay the loan within the 5 years of tenure. The borrower can reduce the burden of IDBI bank personal loan interest rate anytime by making prepayment or closing the loan earlier. To do so, you need to pay 2% of the outstanding amount if you make prepayment or closer without completing 6 months EMI. otherwise no charges will be levied on your pre-payment or loan closer.