Secure funds for any requirement, whether for marriage, funding child's education, travel, etc at the best interest rates easily with a personal loan. Understand the EMI structure for loan repayment with our Personal Loan EMI Calculator.
How to Use AU Small Finance Bank's Personal Loan EMI Calculator
Enter the required loan amount in the Personal Loan calculator
Enter The interest rate
Enter loan tenure in months
The slider bar can assist in changing the loan details rather than typing them directly to see the resultant EMI change in real-time. The EMI for a Personal Loan online calculator will produce the EMI details based on the input provided by the customer.
Formula to Calculate Personal Loan EMI
E = P x R x (1+r)^n/((1+r)^N – 1, wherein
E = Equated Monthly Instalment
P stands for principal amount
R denotes applicable rate of interest
N is the loan term or tenure
Using this formula will help you calculate your monthly EMI with complete accuracy. This would aid you in planning your finance properly and making some informed decisions to avail a personal loan.
What is a Personal Loan?
A Personal Loan is a form of unsecured loan offered by various financial institutions to individuals or companies to meet their immediate financial needs. You may avail a Personal Loan with minimal documentation without having to pledge collateral or security. You have the liberty to use the funds from the Personal Loan for any purpose, for example, high-ticket purchases, debt consolidation, etc.
What is the maximum amount of loan I can get?
The maximum amount of Personal Loans that you can apply for is ₹10,00,000. There is no demand for security or collateral to avail of a Personal Loan from us. Documentation required is minimal, with an easy and instant approval process on meeting the eligibility criteria.
Can I get a Personal Loan during pandemics like COVID-19?
Yes, you can avail of a Personal Loan during pandemics like the COVID-19. Many individuals and companies have been able to meet their financial requirements during the COVID-19 pandemic by applying for Personal Loans online. Many have availed of Personal Loans during the pandemic to meet several financial obligations instead of breaking into their savings or retirement funds.
How can I get a Personal Loan immediately?
The easiest method to avail of a Personal Loan that is disbursed immediately is to apply for it online. This form of Personal Loan application is convenient. Check your Personal Loan eligibility on AU 0101 and proceed to the next steps of online form filling. If you are unsure of your affordability factor, you may also check the Personal Loan EMI using the Online EMI Calculator available on the website of most financial institutions.
As soon as the formalities and documentation steps are completed, the lender initiates a verification process. On completion, the Personal Loan is immediately disbursed to your registered bank account.
How does a Personal Loan work?
A Personal Loan is more or less like most types of loans. Once you fill up and submit the application as well as the required documents, the lender checks your creditworthiness and proceeds towards approving or rejecting your request for a Personal Loan. If the request is accepted, you will receive a confirmation letter along with an agreement and a repayment schedule. On duly signing and accepting the details, the lender will transfer the approved funds to your registered bank account.
You are free to use the Personal Loan funds in any way you like. However, you should stick to the repayment schedule and fulfill your monthly installments on time.
What is the annual rate of interest at AU Small Finance Bank?
The annual rate of interest is up to 30%, with an average rate of 18%.
What is the annual repayment tenure at AU Small Finance Bank?
The repayment tenure ranges from 12 months to 60 months.
What are the advantages of taking a Personal Loan with AU Small Finance Bank?
Advantages include disbursement within 24 hours, competitive interest rates, lower processing fees, transparent transaction processes, the ability to select a convenient repayment tenure, minimal documentation, and an end-to-end digital application process.
Can I foreclose my Loan with AU Small Finance Bank?
Yes, you can foreclose your loan.
Does a Personal Loan offer tax benefits?
No, a Personal Loan does not offer tax benefits.
What is the minimum amount of Personal Loan offered by AU Small Finance Bank?
The minimum amount offered is INR 25,000.
Do I need to provide security or collateral to apply for a Personal Loan with AU Small Finance Bank?
No, you do not need to provide any security or collateral.
