Loan Calculators
The application provides customers with two types of loan calculators – Loan Installment Calculator and Loan Eligibility Calculator.
The loan Installment calculator enables customers to identity the installment amount payable on a loan of a certain amount for a specific duration. This calculator is beneficial to customers as it gives the customer an opportunity to identity whether applying for a loan for a specific amount and duration is preferable or not.
The loan eligibility calculator enables customers to compute the amount of loan that they are eligible for based on their monthly income and expenses and also the desired loan tenure and estimated interest rate.
Loan Calculator
The loans calculator is a simple installment calculator which identifies the monthly installment amount payable on a loan based on the loan amount, tenure in years and interest percentage.
How to reach here:
Portal Page > Tools & Calculator > Loans
Field Description
|
Field Name |
Description |
|---|---|
|
Amount |
The amount that the customer wants to borrow from the bank. |
|
For (Period) Years |
Desired tenure of the loan in terms of years. |
|
@ Interest |
Interest rate that bank will charge on the applied loan. |
|
Installment Amount |
The monthly installment payable on the loan calculated on the basis of the loan amount, tenure and interest rate specified by the customer. |
- In the Amount field, enter the loan amount.
- In the For Years field, enter the loan tenure in years.
- In the @Interest field, enter the interest rate.
- Click .
The application calculates and displays the monthly installment of the loan.
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