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    Overview about PNB Personal Loan EMI Calculator

    Punjab National Bank (PNB) has completed more than 121 years of banking with merger of 7 banks with itself. The bank has expanded with a wide network of 6690 branches and 9463 ATMs. PNB specialises in all financial segments such as domestic business, global business, CASA deposits, domestic deposits and savings deposits. The PNB Personal Loan can be availed to get financial assistance for your personal needs. This loan can be utilised for medical expenses, travel expenses or any other kind of personal expenses such as marriage.

    How To Use BankBazaar PNB Personal Loan Calculator to understand your Personal Loan Repayment:

    PNB Personal Loan can be repaid in Equated Monthly Instalments (EMI) and to calculate the EMI, you are required to calculate the borrowed amount, the rate of interest as well as the processing fee for the loan. For this, you will have to do a manual calculation to determine the monthly payment for your desired loan period. To reach the suitable amount, you will then have to either adjust the loan amount or the loan tenure. Once you have found an EMI amount that fits your budget, you will have to compare other banks or lenders to zero in on the loan you want.

    The BankBazaar Personal Loan EMI Calculator is an all-inclusive tool that simplifies determination of the installment amount of the loan in a simple and hassle-free method. The calculator not only gives you the EMI for the chosen loan, it also gives a detailed breakup of various charges or components of the loan. With the use of amortisation table, the calculator generates an instant output.

    The BankBazaar Loan EMI Calculator can be found in the company’s homepage. There is a drop down menu on the extreme right of the page. Select ‘Finance Tool’, followed by ‘EMI Calculator’. Upon clicking, the page displayed comprises of fields such as loan amount, interest rate and processing fee. The page also asks you to choose between whether or not you would like to make pre-payments. You can then click on ‘Calculate’ to find out the EMI that you will be required to pay towards the loan.

    How does the PNB Personal Loan EMI Calculator Work?

    The loan EMI calculator is an online calculator where you must enter the amount of loan that you will borrow as well as other details. The calculator uses the following formula:

    E = P x r x (1+r)^n/((1+r)^n-1)

    Where, E is the EMI

    P is the borrowed amount

    r is the monthly rate of interest

    n is the loan tenure (in months)

    The calculator also uses processing fee for calculation of EMI. However, it differs from bank to bank depending on the rate being offered. The processing fee also changes anywhere in the range of 1% to 3%.

    Features and Benefits of PNB Personal Loan EMI Calculator:

    The details in the personal loan EMI calculator can be modified as per requirement. Some of the features and benefits of the PNB Personal Loan EMI Calculator are:

    • Quick Calculation:

      The calculation of EMI can take a long time and changing the figures over and over again would involve recalculation. Using this online calculator, the calculation is carried out in seconds. Using this, you can choose various tenure options, loan amounts and interest rates and get the answer in a jiffy.

    • Convenience:

      This online tool calculates at the utmost convenience without any hassles. This tool helps in easy comparison of various loan schemes and decide on a loan without wasting any time.

    • Loan Specific:

      Although most loans use the same principle, there are certain points that are specific to each. The loan EMI calculators come with such specific adjustments. This tool helps you in giving you the accurate information required to take a personal loan.

    • Accurate:

      While calculating manually, there is always this chance of human error each time you vary the loan amount, loan tenure and interest rates. Also, when you change rates according to various banks, the risk of error also increases. With the online calculator, the accuracy is higher.

    • Use Of Amortisation Tables:

      Amortisation tables are important in an EMI calculator as it can calculate for the entire loan tenure. The table shows the repayment progress over time in terms of principal as well as interest.

    • Graphical Representation:

      The loan EMI calculator not only determines the monthly repayment amount, it also graphically represents it in the form of pie diagrams. The diagram shows the amount that will be repaid at the completion of loan repayment. It also displays the principal and interest along with the processing fee.

    Punjab National Bank Personal Loan Calculator FAQs

    1. Is the EMI as shown in the loan calculator same as that PNB will allow me to pay?

      The EMI amount may sometimes vary from the calculation of the loan EMI calculator from the bank. The difference could be due to the change in loan processing fees and interest rates applied being different while actually taking the loan from the time of calculation.

    2. Is a personal loan EMI calculator more accurate than calculation in excel sheets?

      The online loan EMI calculator is a ready to use tool with instant access to output. In an excel sheet, you are required to formulate the calculation before using it.

    3. Where can I find an online personal loan EMI calculator to calculate EMIs for various loan tenure options from PNB?

      The BankBazaar Personal Loan EMI Calculator allows you to change various fields such as loan tenure to generate the EMI for each option.

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