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How to Use Bank of Maharashtra Personal Loan EMI calculator

You must know if you are eligible for the loan, before you apply for a loan. An EMI calculator will help you prepare to make the EMI payments on time. Learn how to use Bank of Maharashtra personal loan EMI calculator here.

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How to Use Bank of Maharashtra Personal Loan EMI calculator

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  1. How to Use Bank of Maharashtra Personal Loan EMI calculator

  2. What is EMI? Equated Monthly Installment - EMI for short is essentially a fixed amount of money that you have to regularly pay your lender in order to repay the loan.

  3. What is Personal Loan EMI Calculator? The personal loan EMI calculator is an excellent tool for determining your repayment capabilities and determining a loan amount that you are comfortable repaying.

  4. Bank of Maharashtra personal loan EMI calculator? Bank of Maharashtra’s personal loan EMI calculator is an online automatic tool to ascertain how much will be your EMI (Equated Monthly Installment) outgo.

  5. How to Use Bank of Maharashtra Personal Loan EMI Calculator ● Login to official website www.bankofmaharashtra.in/ Click “calculators” tab. ●

  6. ● You will reach a page where you have the option to use different loan EMI calculators, i.e. home loan, personal loan, car loan etc. Click on the Personal Loan EMI calculator tab. ●

  7. How to Use Personal Loan EMI Calculator Enter the following information in the EMI calculator: ● ● ● ● Principal (years) Interest rate(l loan amount you wish to avail Loan term(percentage) Then click “Show EMI” Use the slider to adjust the values in the EMI calculator tool. If you need to enter precise values, type the values directly.

  8. How EMI is Calculated? EMI is calculated using the mathematical formula, EMI = [P x R x (1+R)^N]/[(1+R)^ (N-1)], Where, EMI= equated monthly installment P= principal or the amount that is borrowed as a loan R= rate of interest that is levied on the loan amount N= tenure of repayment of loan

  9. Use of Bank of Maharashtra Personal Loan EMI Calculator ● ● ● ● Anytime access Accurate results Saves you from time-consuming and complex calculations Helps you with financial planning process

  10. Apply for Bank of Maharashtra personal loans online. For more details visit www.bankofmaharashtra.in/

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