18.1 Loan Installment Calculator

This topic provides the systematic instructions for users to calculate loan installment amounts

The loans instalment 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.

1. Perform anyone of the following navigation to access the Loan Installment Calculator screen.
   • From the Dashboard, click Toggle menu, click Menu, click Accounts, then click Loans & Finances tab, and then click More Actions, and click Loan Calculators.

     Under Loan Calculators, click Loan Installment Calculator.

   • From the Dashboard - Overview widget, click Loans & Finances card, then click Accounts, and then click More Actions, and click Loan Calculators, click Loan Installment Calculator.
   • From the Dashboard, click Toggle menu, click Menu, click Financial Management , click Personal Finance Management , and then click Loan Calculators.

     Under Loan Calculators, click Loan Installment Calculator.

   • OBDX portal landing page, click Customer Services , click Calculators, then click Loan Calculator, click Loan Installment Calculator.

   The Loan Installment Calculator screen appears.

   Figure 18-1 Loan Installment Calculator

   
   

   
   Description of "Figure 18-1 Loan Installment Calculator"

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 18-1 Loan Installment Calculator - Field Description

   Field Name	Description
   Loan Amount	The user is required to specify the amount that he/she wants to borrow from the bank.
   Loan Tenure (Years)	The user should specify the desired tenure of the loan in terms of years.
   Interest Rate	The user must specify the desired interest rate that is to be charged on the 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 user.

2. In the Loan Amount field, enter the loan amount.
3. In the Loan Tenure (Years) field, enter the loan tenure in years.
4. In the Interest Rate field, enter the interest rate.
5. The application calculates and displays the monthly installment for the loan required.