You can simply use our Personal Loan EMI calculator to find this out.
For a personal loan of Rs. 20 lakhs, with an interest rate of 10.50%, and a repayment tenure of 5 years, the EMI amount would be – Rs. 42,988.80.
IndusInd personal loan is an unsecured loan so the interest rate is a bit on the higher side. However, over the last decade or so, personal loan interest rates have greatly reduced. On an average, IndusInd Bank personal loan interest rate starts at 10.49%. This used to be around 15% - 28% a few years back.
Why should you find the EMI amount before applying for a personal loan?
The most crucial aspect when applying for a loan is how much the loan will cost you. The Personal Loan EMI Calculator takes care of that. It works in the same manner as a personal loan interest calculator and is the simplest way to figure out how much your loan will cost in terms of interest.
Performing the arithmetic for each loan offer by hand raises the possibility of errors. Even if you use a calculator, human error is still possible when entering numbers. As a result of miscalculations, you may end up picking the incorrect loan. You can test multiple scenarios with the Personal Loan EMI Calculator and obtain precise results every time.