Loan Calculator

The application provides calculators to the user, to get an indicative estimate of:

• Loan Installment Amount
• Loan Eligibility Amount

Through the;

• Loan Installment Calculator
• Loan Eligibility Calculator

Calculation is done by the application and results are displayed to the user.

How to reach here:

Dashboard > Accounts > Loans > Overview > Loan Installment Calculator

Loan Installment Calculator

Repayment of a loan includes both the repayment of the principal amount of the loan, and the interest. These two components, together add up to the loan installment amount, which is typically an amount paid monthly to the lender (bank).

Loan installment calculator is a simple calculator which calculates the installment value of the loan for specific tenure and rate of interest. It helps users to understand the monthly outlay, if they were to take a loan.

Field Description

Field Name	Description
Amount	Loan amount that you want to apply from the bank.
Tenure	Tenure of loan in terms of years.
Interest	Interest rate that bank will charge on the applied loan.
Installment Amount	Calculated monthly installment for the loan required against the Loan amount, Interest rate, and the loan tenure.

• In the Amount field, enter the loan amount.
• In the Tenure field, enter the appropriate loan tenure of loan.
• In the Interest field, enter the interest rate.
  Calculates and displays the monthly installment for the loan required.

Loan Eligibility Calculator

Loan eligibility calculator enables users to understand their loan eligibility, considering their average monthly income and expenditure. It computes the eligible loan amount and average installment per month, based on income, expenses, interest rate and tenure of the loan.

Loan Eligibility Amount calculation is performed by the application and results are displayed.

The eligibility is calculated on the basis of :

• Average Monthly Income
• Tenure for the loan being inquired
• Average Monthly Expenses
• Estimated rate of interest

Field Description

Field Name	Description
Average Monthly Income	Monthly income of the user.
Average Monthly Expenses	Monthly expenses of the user.
Tenure	Tenure of loan in terms of years.
Interest	Interest rate for which the eligibility is to be calculated.
Eligible Amount	Eligible loan amount.
Average Installment	Displays the estimated monthly installment amount.

• In the Average Monthly Income field, enter the monthly income.
• In the Average Monthly Expenses field, enter the monthly expenses.
• In the Tenure (in Years) field, enter the loan tenure of loan.
• In the Interest field, enter the applicable rate of interest.
  Calculate and displays the eligible loan amount and the EMI amount.

FAQs

As a corporate User, what are the loan accounts that I can view?

A Corporate User can view all the accounts that he has access to. This includes the accounts of his primary party as well as those of Linked parties.

Can I perform repayment of the Loan 24/7, on the Online Platform?

Financial Transactions, such as repayment of loan will be allowed within the business hours (or the working window of the transaction.

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