Axis Bank Personal Loan EMI Calculator

Axis Bank is one of the leading private sector banks in India having more than 4,700 branches and over 12,000 ATMs across the country. The bank has a market capitalisation above ₹2.9 lakh crores (as in 2024) making it a viable financial partner of millions of customers. Being a pioneering bank for delivering the most efficient solutions, Axis Bank provides a number of financial services along with personal loans which are flexible in terms of financial requirements. In order to make the borrowing as smooth as possible the Axis Bank Personal Loan EMI Calculator helps you estimate your monthly payment which can be very helpful when planning your budget.

What exactly is an Axis Bank Personal Loan EMI Calculator?

The Axis Bank Personal Loan EMI Calculator is an intelligent and online tool that assists customers to determine the personal loan EMI. Users can input some fundamental parameters such as loan amount, tenor and interest rate and get direct result of estimated monthly installments. This increases flexibility and makes it easy to predict expenses and plan on the finances well.

What is the Formula Used for Personal Loan EMI Calculation?

EMI = [P x r x (1+r)^n] / [(1+r)^n-1]

In this formula-

EMI = Equated Monthly Installment

P = The Principal Amount

r = Monthly Interest Rate (Annual Interest Rate / 12)

n = The Tenure of Loan

This formula calculates the fixed monthly payment required to repay a loan within a specified tenure at a given interest rate.

How to Use Axis Bank personal loan EMI Calculator?

• Navigate to Personal Loan calculator and select Axis Bank from the list of EMI calculators
• Enter the loan taken, applicable interest rate, and your tenure in the appropriate boxes
• Your EMI will be displayed along with total interest and total loan cost

How to Use SBI EMI Calculator?

• Click on SBI under list of EMI calculators
• Enter the loan taken, applicable interest rate, and your tenure in the appropriate boxes
• Your EMI will be displayed along with total interest and total loan cost
• Adjust Inputs if Necessary to calculate the EMI for different scenarios

Advantages of Using Axis Bank Personal Loan EMI Calculator

1. Accurate Calculations It gives the most accurate EMI calculation for Axis Bank Personal Loan
2. Time-Saving It generates results in few seconds by giving few inputs. You can then compare various EMIs
3. Budget-Friendly Planning It helps you in planning your monthly budget more effectively
4. Loan Comparisons Enables users to compare loan options and choose the best effective loan suited to your budget
5. User Convenience It is available any time and does not require any active internet connection

FAQs on Axis Bank EMI Calculators

1. Is it possible to calculate floating interest rate loans via the Axis Bank EMI calculator?

Yes, but what we get from the calculator is estimates depending on the current interest rate. Depending on the period of the time the rates may be floating.

2. Is prepayment plan catered for by the calculator?

Prepayment information will not be taken into account by the EMI calculator

3. Is there any difference between Axis EMI calculator available for salaried person or self-employed person?

The calculator is the same, but the documents required might be different and input might be different for both the cases

4. Can I calculate EMI for the loan period of over and above 30 years?

No it does not calculate EMI for loans that are over 30 years

5. Is EMI processing fee included in the EMI calculator?

No, it does include EMI processing fee into account