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    Vijaya Bank Personal Loan EMI Calculator

    We found 1 Vijaya Bank Personal Loan EMI Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.50% Fixed
    10L Max
    1-5 years
    Response Time Within 30 minutes
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    Vijaya Bank Personal Loan EMI Calculator is Rated as "Great!" by 15 Users

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    Overview about Vijaya Bank Personal Loan Calculator

    Vijaya Bank is a public sector bank in India with a network of 1620 branches and 1500 ATMs all over the country. The bank offers the best service to its customers through their top notch financial services and technically advanced products. Vijaya Bank personal loan can be used to meet any financial emergency as well as personal needs. The bank provides a high loan amount of up to Rs.6 lakh under this scheme. With a service charge as low as 0.55% or Rs.2,000 for personal loan, Vijaya Bank is an ideal choice for those looking for multipurpose loans.

    Understanding Personal Loan Repayment

    A personal loan from Vijaya Bank would require you to repay it in the form of monthly instalments, also referred to as EMIs or Equated Monthly Installments. An EMI includes a portion of the principal amount and the rate of interest charges. Knowing the EMI towards a personal loan is crucial as it helps you decide the monthly budget. You should be aware of the exact EMI amount as well as the breakup of the EMI amount. The EMI also includes processing charges towards the loan, if any.

    To know the EMI that you will be paying to the bank for a personal loan can be manually calculated. In order to calculate the loan amount, you are required to obtain details such as rate of interest, processing fees, etc. as well as the amount borrowed. When you calculate manually, the time and effort taken to reach an ideal EMI amount, is a lot. It requires you to explore various loan tenure or loan amount options to reach at a suitable EMI as per your budget.

    Personal Loan EMI Calculator by BankBazaar

    The BankBazaar Personal Loan EMI Calculator is a universal tool that can calculate EMI for a personal loan in seconds. Apart from calculating the EMI, the tool also displays the breakup of charges involved in the loan. An instant output is generated by this online calculator with the help of an amortisation table.

    The BankBazaar EMI calculator is very simple to use. Visit the BankBazaar website and navigate to the extreme right of the page. Choose ‘Finance Tools’ from the drop down menu, followed by ‘EMI Calculator’. Upon selecting this option, the page prompts you to enter all the loan details necessary for EMI calculation, including processing fees. Click on ‘Calculate’ to generate the exact EMI amount. The EMI amount is calculated based on the present interest rate and processing charges and may vary when you actually take the loan.

    How Does The Personal Loan EMI Calculator Work For The Calculation Of EMI Towards Vijaya Bank Personal Loan?

    The following formula is used for calculating loan EMI:

    E = P x R x (1+R)^n/[(1+R)^n-1]

    Where, E is the monthly installment

    P is the principal amount

    R is the monthly rate of interest

    n is the loan tenure in months

    Sometimes, processing fee is also incorporated in the calculation to generate a more accurate EMI.

    Features and Benefits of Vijaya Bank Personal Loan EMI Calculator

    The loan EMI calculator that can be used to calculate EMI for a Vijaya Bank personal loan has the following benefits:

    • Easy To Use: The online loan EMI calculator can be used by anybody who knows just the details of the personal loan. It can help you in choosing the ideal personal loan suited to your financial planning.
    • Accuracy: Manual calculation is prone to miscalculations and errors. Each time the loan amount or the tenure or the interest rate is changed, there is a chance of making a mistake. The online EMI calculator is automated and is not so error-prone, unless there is an error while entering data manually.
    • Loan Details: The BankBazaar loan EMI calculator displays the loan details in the form of a pie diagram. The graphical representation gives you an idea of the total amount repaid at the time of loan tenure completion.
    • Amortisation Table: It uses amortisation table to generate an instant output. The table helps us understand the loan progress over time, such as principal and interest.

    Vijaya Bank Personal Loan EMI Calculator FAQs

    1. Is the loan EMI calculator different for each bank?

      No, the EMI calculator is a universal tool that can be used to calculate EMI for personal loans from any bank.

    2. Can I use excel sheet to calculate the EMI towards Vijaya Bank personal loan rather than an online EMI Calculator?

      Yes, you can, however calculation of EMI towards Vijaya Bank personal loan in an excel sheet requires you to enter the program manually. While, using an online EMI calculator uses an automated technique, which is faster.

    3. Is the calculation of Vijaya Bank’s personal loan EMI accurate using the BankBazaar Personal Loan EMI Calculator?

      Yes, the EMI calculation is almost accurate. However, the changes may be due to difference in interest rate or processing fee offered at the time of taking the loan. 


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