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Advanced Personal Loan Calculator

General Calculator for self-help Planning
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0
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20L
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40L
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60L
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80L
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1Cr
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1.2Cr
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1.4Cr
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1.6Cr
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1.8Cr
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2Cr
Months
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0
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6
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12
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18
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24
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30
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36
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42
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48
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54
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60
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0%
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2.5%
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5%
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7.5%
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10%
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12.5%
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15%
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17.5%
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20%
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22.5%
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25%

EMI & Loan Details

Loan Amount
Loan Duration & Installments
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EMI Amount
Interest Rate
Total Interest
Total Payment with Interest



Loan Amount - Total loan money borrower has to pay. This amount could be higher from the actual disbursement amount or required loan amount. The reason for difference is there are some administrative charges and government levies are applicable which borrower has to pay. These charges are either paid separately in 1st payment or added into loan amount.

Interest Rate - Interest rate is the amount charged by a lender to a borrower for the use of money. Interest rates are typically expressed as percent of principal amount on an annual basis, known as the annual percentage rate (APR). Higher interest rate means borrower needs to pay more interest

Loan Tenure - Period from the date of first EMI to the date of the last EMI payment or the date of closure of loan. Longer tenure is cause to high interest payment.

EMI Amount - An EMI refers to an equated monthly instalment. It is a fixed amount which borrower pays every month. It comprises of principal repayment and interest payment for the month. Increment in loan amount and loan interest rate always increase the EMI. If someone wants to have lower EMI amount than one can opt for a higher loan tenure.

Total Interest - Amount that is sum of all interest payments from first EMI to last EMI payed.

Loan Tenure - Period from the date of first EMI to the date of the last EMI payment or the date of closure of loan. Longer tenure is cause to high interest payment.

Disbursement Date - Date when loan amount will be disbursed / transferred from lender to borrower.

Instalment Start Date - Date when borrower wants to pay first instalment or start EMI schedule. Generally, banks provide one-month grace period to start EMI but if borrower wants more delay to start EMI then loan amount increases with interest amount for the delay.

Pre EMI - Some lenders may grant pre EMI option to allow delay start of EMI payments and do not add interest till EMI start date to total loan amount by pre EMI scheme. In this case only monthly interest component need to be paid on the loan amount. So amount that need to be paid monthly before start of EMI schedule is pre EMI amount.

Total Payment - An amount that comprises all principal, interest and charges. This amount is equal to all payments made by borrower to lender"



Disclaimer - These gizmos, calculators, tools are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances and suitability for any individual. Please read site terms & conditions for details.

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