1 / 7

Benefits of using Kotak Mahindra Bank Personal Loan EMI Calculator

The Kotak Mahindra Bank Personal Loan EMI Calculator may be a free tool designed to calculate the monthly EMI outflow, by putting the small print of the loan amount, loan tenure, and rate of interest. The details presented by the Calculator are accurate which assists in evaluating the loan amount which an applicant is required to use. EMI is that the sum of interest also as principal amount, payable monthly towards repayment of the debt amount.

apoorv
Download Presentation

Benefits of using Kotak Mahindra Bank Personal Loan EMI Calculator

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BENEFİTS OF USİNG KOTAK MAHİNDRA BANK PERSONAL LOAN EMI CALCULATOR

  2. KOTA K MA H I ND RA B A NK P E RS O NA L KOTA K MA H I ND RA B A NK P E RS O NA L L OA N E MI C A L C UL ATO R L OA N E MI C A L C UL ATO R The EMI Calculator is a free tool designed to calculate the monthly EMI outflow, by putting the details of the loan amount, loan tenure, and interest rate. The details presented by the Calculator is accurate which assists in evaluating the loan amount which an applicant is required to apply for. EMI is the sum of interest as well as principal amount, payable monthly towards repayment of the debt amount. Personal Loan EMI Calculator results for different tenures Kotak Mahindra Personal Loan at 11.29% Loan Amount Loan Amount 1 year 1 year 2 year 2 year 5 year 5 year Rs 1,00,000 Rs 8,851 Rs 4,674 Rs 2,188 Rs 2,00,000 Rs 17,703 Rs 9,348 Rs 4,377

  3. FAC TO RS A F F E C T I NG KOTA K FAC TO RS A F F E C T I NG KOTA K MA H I ND RA B A NK E MI MA H I ND RA B A NK E MI • Interest Rate Interest Rate – The total cost of the loan and EMI is affected by a higher interest rate. Kotak Mahindra Bank offers Personal loans at 11.29% p.a. It is advisable to do a thorough analysis of interest rates before applying for a loan. • Loan Tenure Loan Tenure– Kotak Mahindra Bank offers the loan for a maximum tenure of 60 months. Lowering of personal loan EMI is dependent on longer tenure. • Loan Amount Loan Amount – Higher loan amount invites higher EMI. Kotak Mahindra Bank offers a maximum loan amount of Rs 15 lakh

  4. KOTA K MA H I ND RA B A NK P E RS O NA L KOTA K MA H I ND RA B A NK P E RS O NA L L OA N E MI C A L C UL AT I O N F O RMUL A L OA N E MI C A L C UL AT I O N F O RMUL A The formula for calculating personal loan adopted by Kotak Mahindra Bank is P*r* The formula for calculating personal loan adopted by Kotak Mahindra Bank is P*r* (1+r)^n/([(1+r)^n] (1+r)^n/([(1+r)^n]- -1) 1) Below is the illustration of how Kotak Mahindra Bank Personal Loan EMI is calculated: n = Tenure in month r = Per month rate of interest P= Loan Amount

  5. KOTA K MA H I ND RA B A NK P E RS O NA L KOTA K MA H I ND RA B A NK P E RS O NA L L OA N E MI C A L C UL ATO R L OA N E MI C A L C UL ATO R - - F E AT URE S A ND B E NE F I T S A ND B E NE F I T S F E AT URE S The EMI Calculator EMI Calculator does the calculations for you within minutes, giving an estimate of monthly outflow of debts. Let us find out the benefits of using a personal loan EMI Calculator. • Graphical representation of data Graphical representation of data- The role of EMI Calculator is not restricted to mere providing data. The graphical representation of the data make the individual aware of the gradual payment which they are going to make towards the loan amount. • Accuracy Accuracy –The result displayed by the EMI Calculator on computing details like loan amount, loan tenure, and interest rate, will be accurate. This may not be possible in case of manual calculation. • Time Saver Time Saver- Manual calculation of the EMI would take much time posing chances of incorrect details at times. Using EMI Calculator will reduce the task to friction of seconds. It is more suitable in deriving a correct estimate. • 24/7 availability 24/7 availability –There is no restriction on using the EMI Calculator as many times one wants. An applicant can check the details by computing the loan amount, interest rate, tenure and figure out by analyzing how much loan is required. It allows to adjust the details and check which one is working for you.

  6. H OW TO US E H OW TO US E A F I NO Z L OA N E MI C A L C UL ATO R L OA N E MI C A L C UL ATO R A F I NO Z P E RS O NA L P E RS O NA L • Using Personal loan EMI Calculator Personal loan EMI Calculator at Afinoz is quite simple and can be easily made use of even by the first- time user. Afinoz is a marketplace for users to compare and shop for the best loans under one umbrella. The interest rates offered are affordable, with easy application through the website and the app. • Visit the website www.afinoz.com and go to the section of the EMI calculator. Compute the details and get results within a fraction of seconds. The EMI Calculator is simple to use and gives you the details, without putting up much effort. The accuracy of the data is noteworthy and can be made use of in figuring out the future requirement of applying for the loan amount.

  7. THANK YOU www.afinoz.com

More Related