IDFC Personal Loan EMI Calculator

IDFC Bank has merged with Capital First, a NBFC on December 2018 and renamed as IDFC FIRST Bank. The customers are not only offered with personal loan at attractive interest rates by IDFC First Bank but also with IDFC Personal Loan EMI Calculator which helps to calculate the EMI amount if you plan to take personal loan. With the help of IDFC Personal Loan EMI Calculator online, you can calculate the EMI using various combinations of loan amount, loan tenure and interest rate charged and select that particular loan amount which satisfies your need and its repayment will not put much pressure on your monthly budget.

IDFC First Personal Loan EMI Calculator calculates the EMI using details like loan amount, rate of interest and loan tenure within seconds as compared to IDFC Personal Loan EMI Calculator with excel sheets which takes a good time to calculate and moreover involves complicated calculations and formulas. So, IDFC Personal Loan EMI Calculator India calculates EMI which are accurate and error free.

How does IDFC Personal Loan EMI Calculator works?

When you are planning to take a personal loan, it’s always better to calculate the EMI using IDFC Personal Loan EMI Calculator which helps you to get an idea of how much EMI amount you need to pay every month and whether it is within your financial capability. If no, then you change the loan amount that you have entered in IDFC First Personal Loan EMI Calculator. In this way you get can zero down to an amount using IDFC Personal Loan EMI Calculator that you can borrow which does not put pressure on your financial stability.

Instead of going for manual calculations which are extremely tedious and time consuming, you can just input few details in IDFC Personal Loan EMI Calculator online and get the result in just a click of a button.

In order to calculate EMI, IDFC Personal Loan EMI Calculator formula used-
EMI= [P*r*(1+r)n]/[((1+r)n-1)]
where,
‘EMI’ is the Equated Monthly Installment in IDFC Personal Loan EMI Calculator
‘P’ is the loan amount in IDFC Personal Loan EMI Calculator
‘r’ is for interest rate charged that is entered in IDFC Personal Loan EMI Calculator
‘n’ is the loan tenure in months

IDFC Personal Loan Interest Rate EMI Calculator helps you out in both fixed and floating interest rates. In case of fixed interest rate of EMI calculations using IDFC Personal Loan EMI Calculator, the rate is fixed for the whole loan tenure. And in case of floating interest rate while using IDFC Personal Loan EMI Calculator India, the rate changes during the loan tenure.

How to use IDFC Personal Loan EMI Calculator?

With the help of IDFC Personal Loan EMI Calculator, you rae benefitted with the future EMI payments in case you borrow personal loan. Not only the EMI amount, but also the break-up of EMI is also shown in IDFC Personal Loan EMI Calculator online. You tend to separetely know the principal amount and interest outgo which you need to pay as EMI when calculated in IDFC Personal Loan EMI Calculator India.
The 3 important details for IDFC Personal Loan EMI Calculator are-

• Amount of Loan

  IDFC Personal Loan EMI Calculator calculates EMI with the entered loan amount which you wich to borrow. You can choose a higher loan amount in IDFC Personal Loan EMI Calculator, but you need to pay a higher EMI for that. So, using IDFC Personal Loan EMI Calculator be very specific with the loan amount whose repayment is within your financial capability.

• Interest Rate

  The rate of interest is charged on the loan amount when you calculate using IDFC Personal Loan EMI Calculator. If your credit history is up to the mark as indicated by the credit score, then the interest rate will be quite low when you calculate using IDFC Personal Loan EMI Calculator.

• Loan Tenure

  The range of loan tenure for personal loan which you can input in IDFC Personal Loan EMI Calculator is 12 months to 60 months. It’s always better to select a shorter loan tenure where you need to pay a lower EMI as compared to longer loan tenure when using IDFC Personal Loan EMI Calculator.
  
  If you decide to prepay the loan, you can calculate the EMI amount using IDFC Personal Loan EMI Calculator with prepayment. For using IDFC Personal Loan EMI Calculator with prepayment you can choose 2 options- either keep the loan tenure same which will reduce the EMI or else you lower the loan tenure which will keep the EMI payment same.

IDFC First Personal Loan EMI Calculator- EMI Calculations

To explain the EMI calculations using IDFC Personal Loan EMI Calculator, here is a simple example where the EMI is calculated for different loan amount and loan tenure at 11.50%*.

*Interest rates change time to time.

Advantages of IDFC Personal Loan EMI Calculator

• IDFC Personal Loan EMI Calculator breaks up the EMI amount giving separetely the principal amount and the interest amount separetely.
• Instead of lenghty and complex calculations, you can simply put the required details in IDFC Personal Loan EMI Calculator and fetch result instantly.
• You can calculate the EMI amount using IDFC Personal Loan EMI Calculator anytime anywhere at free of cost.
• The EMI amount from using IDFC Personal Loan EMI Calculator is accurate and is free from any error.
• You can calculate EMI of different combinations of loan amount, interest rate and loan tenure using IDFC Personal Loan EMI Calculator.
• Your time to calculate EMI in pen and paper gets saved by using IDFC Personal Loan EMI Calculator.