4.1 Loan Installment Calculator

This topic describes the information about Loan Installment Calculator screen.

The loans installment 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 any one of the following navigation to access the Loan Installment Calculator screen:
   • From the Dashboard, click Toggle menu, and then click Menu. From the Menu, click Accounts, and then click Loans & Finances tab. From the Loans & Finances , click More Actions, and then click Loan Calculators. From the Loan Calculators, click Loan Installment Calculator.
   • From the Dashboard - Overview widget, click Loans & Finances card, and then click Accounts. From the Accounts, click More Actions, and then click Loan Calculators. From the Loan Calculators, click Loan Installment Calculator.
   • From the Dashboard, click Toggle menu, and then click Menu. From the Menu, click Financial Management , and then click Personal Finance Management . From the Personal Finance Management , click Loan Calculators, and then click Loan Installment Calculator.
   • From OBDX portal landing page, click Customer Services , and then click Calculators. From the Calculators, click Loan Calculator, and then click Loan Installment Calculator.

   The Loan Installment Calculator screen appears.

   Figure 4-1 Loan Installment Calculator

   
   

   
   Description of "Figure 4-1 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 4-1 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.
   Loan Installment	The monthly installment payable on the loan calculated on the basis of the loan amount, tenure and interest rate specified by the user.
   Total Interest Payable	Total Interest Payable amount.
   Total Payment	Total Payment amount.
   Apply Now	Link to apply for a new loan.
   Frequently Asked Questions	A list of questions and answers that are most frequently asked about a topic.

2. In the Loan Amount field, type or drag the slider to enter the loan amount.
3. In the Loan Tenure (Years) field, type or drag the slider to enter the loan tenure in years.
4. In the Interest Rate field, type or drag the slider to enter the interest rate.
5. Click Calculate.
   The application calculates and displays the monthly installment along with the total interest payable, and the total payment need to be done for the loan required.