  Calculators EMI Calculator Axis Personal Loan

# Axis Personal Loan EMI Calculator

Loan Amount
Min ₹100000
Max ₹10000000
Rate of interest (p.a)
Min 1%
Max 20%
Loan tenure
Min 1 yr
Max 30 yr
Monthly EMI
Principal amount
Total interest
Total amount
19566
1000000
173969
1173969
2023
2024
2025
2026
2027
2028

EMI stands for Equal Monthly Instalment. It is the fixed amount of money that a borrower needs to pay to a lender each month to repay a loan. The EMI typically includes both the principal amount borrowed and the interest charged on the loan. The amount of the EMI is determined by the loan amount, the interest rate, and the loan tenure (the number of months over which the loan will be repaid).

For example, if you take out a loan of ₹1,00,000 at an annual interest rate of 10% for a period of 3 years (36 months), your EMI would be the fixed amount that you would need to pay each month to repay the loan in full over the 3-year period.

What is a Axis Personal Loan EMI Calculator?
A Axis Personal Loan EMI calculator is a tool used to calculate the equal monthly instalment (EMI) that is required to pay off a loan. It typically takes into account the principal amount of the loan, the interest rate, and the loan tenure (i.e., the number of months over which the loan needs to be repaid).
The Axis Personal Loan EMI calculator uses this information to compute the EMI, which is the fixed amount that a borrower needs to pay each month to fully repay the loan by the end of the loan tenure. Axis Personal Loan EMI calculators are often used by individuals and businesses to plan their finances and budget for loan repayments.
How does an online Axis Personal Loan EMI Calculator work?
An online Axis Personal Loan EMI calculator typically works by gathering input from a user, such as the principal loan amount, the interest rate, and the loan tenure. It then uses a mathematical formula to calculate the EMI, which is the fixed amount that the borrower needs to pay each month to fully repay the loan by the end of the loan tenure.
The formula used to calculate the Axis Personal Loan EMI is typically:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1],
where P is the principal loan amount, R is the interest rate (expressed as a decimal), and N is the loan tenure (expressed in months).
What are the factors on which the Axis Personal Loan EMI calculation depends?
Axis Personal Loan EMI calculation depends on the following factors:
1. Principal loan amount: This is the amount of money that is borrowed. A higher loan amount will result in a higher EMI.
2. Interest rate: This is the rate at which interest is charged on the loan. A higher interest rate will result in a higher EMI.
3. Loan tenure: This is the period of time over which the loan is to be repaid, usually measured in months. A longer loan tenure will result in a lower EMI, but will also result in more interest being paid over the life of the loan.
4. Repayment frequency: This is how often the EMI needs to be paid. Monthly EMI is the most common, but some loans may require weekly or bi-weekly payments.
5. Type of Interest: The type of interest can affect the EMI calculation. For example, EMI calculation for fixed interest rate and floating interest rate will be different.
By taking into account these factors, an Axis Personal Loan EMI calculator can calculate the fixed amount that a borrower needs to pay each month to fully repay the loan by the end of the loan tenure.
How to use the Trinkerr Axis Personal Loan EMI Calculator?
To use Trinkerr Axis Personal Loan EMI calculator, you will need to input the following information:
1. Loan amount: The total amount you borrowed
2. Interest rate: The annual interest rate on the loan
3. Loan tenure: The number of months over which you will repay the loan
Once you have entered this information, the calculator will calculate the EMI for you.