The EMI Calculator makes the process of Equated Monthly Installment (EMI) determination quite easy and quick. Where you would have been head-scratching over the complex formula (EMI = [P x R x (1+R)^N]/[(1+R)^N-1]), the IDFC Bank Personal Loan EMI Calculator does it for you by just entering three details. These three inputs are needed for getting the algorithm of the EMI calculator running. These three details are - desired loan amount, applicable interest rate and the tenure you want the loan for. As soon as these values are fed, the calculator comes up with the EMI figure within a few milliseconds.

What are the Multiple Ways in which IDFC Bank Personal Loan EMI Calculator can help you?

IDFC Bank has designed the calculator keeping in mind the personal loan customer to make things convenient for them. Below mentioned are few ways in which the IDFC Bank Personal Loan EMI can help you in your loan selection procedure:

Helps in Planning: Managing a personal loan takes a hell lot of planning, more than you have imagined. The reason being a major chunk of your salary goes towards paying off the monthly installment. So a proactive planning will put you in a safer spot. The approximate EMI figure determined by the calculator helps you in the planning process. With the EMI known, you’ll have an idea of how to manage your expenses, which things to spend on and where not to.

Super Easy: Just think of doing this calculation manually, all by yourself. Not only will it involve immense amount of your time but also it will lead to scope for errors. With the IDFC Personal loan EMI Calculator, you save energy and time. By barely just entering three details, the result is on your screen in no-time.

Amortization Table: IDFC personal loan calculator also provides an amortization table which helps you to contemplate how your loan progresses over time. It shows you the relationship between interest rate and principal amount. This helps you to take decision in regards to planning.

Is IDFC Bank Personal Loan Interest Rate Affordable?

IDFC Bank is one among the key private sector banks operational in India that has varied loan products to borrowers. IDFC Bank consumer loan is one among the popular selections. The explanation for being the primary selection by a number of borrowers is that the reasonable interest rates at that the personal loan is provided. Whereas other banks of India csquare measure providing personal loans at high interest rate, IDFC Bank is giving at as low as 11.65 percent and as high as 15%. You don’t need to cut down on your luxury owing to the friendly nature of IDFC Bank personal loan interest rate. It keeps your EMI as low as attainable to assist you in living a normal life. However, IDFC Bank measure some factors that verify the interest rates the bank can charge on your loan. 

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