Key Features You Need to Know about SBI Personal Loan Calculator

Want to apply for a personal loan but don’t what would be the exact EMIs you need to pay to the lender? Well, nothing to worry as all you have is a magical device known as SBI personal loan calculator. That’s Right! This smart device has been thoughtfully created that not only lets you know the exact calculations of your EMIs but it also helps you out with the Interest calculations as well.

It’s well-designed algorithms fetch the exact and accurate results for you in just a few seconds. Imagine a smart device that can keep all the hassle away from your life and helps you in taking the calculative decisions in life? Well, it’s none other than this 24x7 easily available online tool, which is always there for you.

However, today, in this article, we are going to talk about the factors that actually impact the functioning of this tool. How it works, which I am sure you don’t know, isn’t it? So, let’s not waste any time further and discuss those factors in the article below.

Loan Amount: The device starts to function when a user feeds the loan amount on the required field. If you want to know the exact and accurate calculations of your monthly installments, it is necessary to enter the required loan amount that you want to avail from the lender.

Tenure: Another important factor that plays an equally important role in your EMI calculation in the tenure. You need to enter the tenure into the device along with the loan amount as then only you would be able to know the exact results for your EMI.

Interest Rate: Last but definitely not the least, SBI personal loan interest rates are one such critical factors without which you won’t be able to know the accurate calculations of your monthly installments and Interest Outgo. It is important for you to enter the rates offered by the bank to avail the required loan amount at a specific tenure.

Well, these are the three basic components which are mandatory for a user to know in detail before using the personal loan EMI Calculator. Let’s just understand more about this device via an example mentioned below.

Suppose, Anjali Verma, a 30-year-old, Senior Manager by profession is looking for an unsecured credit facility of 2 Lakh to renovate his home. One lender got agreed to offer the credit at a rate of 11.35% per annum for a tenure of 5 years. So, let’s just know what would be exact calculations of her monthly installments. And, this is where the SBI personal loan calculator online comes into the picture that will let you know the accurate values of your monthly installments and Interest Outgo in just a few seconds. So, Anjali decided to use the device hence the values come out to be: ₹4,383 and ₹63,009 respectively. Hence, all this can easily be possible with this smart and effective online tool.


Key Features You Need to Know about SBI Personal Loan Calculator Key Features You Need to Know about SBI Personal Loan Calculator Reviewed by retouchonline on May 15, 2018 Rating: 5

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