Nearly every public and private lender offer personal loan to fulfill urgent individual expenses called as personal loans. Customers nowadays enjoy a slew of choices when it comes to personal loans or any other financial product or service. If you are thinking of applying for personal loan, the main thing to do is to research well and compare the available offers. As there are hundreds of lenders in the playground, you will surely find one at a competitive interest rate and minimal charges. Axis Bank, the third biggest lender in the country, has earned this position by customizing and fulfilling finance necessities of the customers. Axis bank’s personal loans can be availed by those with a steady income. The amount you can avail range from INR 50,000 to INR 15 lacs. You may take 1 year to 5 years to repay the loan.
BankBazaar is one of the most favoured online portal where all financial quest ends. Go to the BankBazaar home page. You will see the option ‘loans’ on the top. Click on it and choose ‘personal loans’ from the drop down menu. You will see a number of tabs on the pages navigated. Click on the tab ‘Get quote’ to get the best prices.
You may need a personal loan at any given point in time. To ease your burden of paying off the loan immediately, you can opt for the EMI (Equated Monthly Instalment) facility. To know how much you need to pay per month, you can use a personal loan calculator. You can choose your tenure and the amount you are comfortable to repay every month which suits your pocket. With the Axis Personal EMI Calculator, you can also calculate the compound interest. You can know exactly how much will be the final amount that you part with including the interest.
What will be the EMI if I want to apply for a personal loan of INR 50,000 from Axis Bank?
Enter the amount in the given column and the interest rate set by the bank. If you enter 5 years in the column for tenure, you will get Rs.1746 as your EMI.