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Piramal Finance Personal Loan EMI Calculator

Easily estimate your monthly repayments with the Piramal Finance Personal Loan EMI Calculator, and plan your finances effectively.
Your Personal Loan EMI
₹ 21,247
Total Interest Amount

₹ 274,823

Principal Amount

₹ 10,00,000

Total Payable Amount

₹ 12,74,823

Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months arrow-down-img
  • Years
- +
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Max value reached
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Navigating personal loans can be challenging, especially when it comes to understanding your monthly repayment commitments. The Piramal Finance Personal Loan EMI Calculator is a user-friendly tool designed to simplify this process. 

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By providing essential details such as the loan amount, interest rate, and tenure, this calculator provides an instant estimate of your Equated Monthly Instalment (EMI).This empowers you to make informed financial decisions, ensuring that your loan repayments align with your budget and financial goals. Whether you're planning for a wedding, home renovation, or consolidating debt, the EMI calculator is an invaluable resource to guide your borrowing choices.

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How is Piramal Finance Personal Loan EMI Calculated

The EMI for a Piramal Finance personal loan is calculated using the mathematical formula shown below:

EMI = P x R x (1 + R)N / [(1 + R)N-1]

Where:

  • P is the loan amount (principle)

  • R is the monthly interest rate (annual rate of interest divided by 12),

  • N is the duration of repayments (period in months).

This formula helps determine the exact amount you will need to pay each month, based on your loan details such as the principal amount, interest rate, and tenure.

Example Calculation

Let’s say you choose to borrow ₹10,00,000 at an interest rate levied annually at 10%. The repayment tenure is chosen as 5 years or 60 months.

  1. Loan amount (P) = ₹10,00,000

  2. Annual rate of interest = 10%

  3. Monthly interest rate (R) = 10 / 12 / 100 = 0.00833

  4. Tenure (N) = 60 months

After calculation, your monthly EMI would be approximately ₹21,247, and across 60 months, the total repayment would be ₹12,74,820, including about ₹2,74,820 in interest.

Detailed Breakdown Table

Below is a detailed breakdown of the EMIs for a ₹10 Lakhs personal loan at 10% interest, calculated for different tenure options up to 5 years:
Loan Amount (₹) Tenure (Years) Interest Rate (%) Total Interest Amount (₹) EMI (₹)

10,00,000

1

10

54,990

87,915

10,00,000

2

10

1,07,478

46,144

10,00,000

3

10

1,61,618

32,267

10,00,000

4

10

2,17,404

25,362

10,00,000

5

10

2,74,822

21,247

Disclaimer: The figures shown above are for illustration purposes only. Actual EMI amounts, interest payable, and repayment schedules may vary based on the lender’s terms, applicable charges, and your individual loan eligibility.

How To Use The Piramal Finance Personal Loan EMI Calculator

Using the Piramal Finance Personal Loan EMI Calculator is a straightforward process. Simply enter the following details:

  1. Loan Amount: The total amount you wish to borrow.

  2. Interest Rate: The rate at which interest will be charged on the loan.

  3. Loan Tenure: The number of months over which you intend to repay the loan.

The calculator will then instantly display your monthly EMI, making it easy to understand your repayment commitment.

Benefits of Using the Piramal Finance Personal Loan EMI Calculator

Using the Personal Loan EMI Calculator helps you plan your monthly repayments accurately. Here are the key benefits of using this tool to manage your finances effectively:

Simplicity and Convenience

The calculator is user-friendly and eliminates the need for complex manual calculations. You simply need to enter your loan details, and it provides the result within seconds.

Instant Results

The calculator delivers quick results, helping you make immediate decisions about loan terms.

Accurate Calculations

By using the calculator, you eliminate the risk of errors that can occur when calculating manually. It ensures that the EMI amount is correct, based on the entered data.

Budget Control

Knowing your EMI beforehand helps in better budgeting, ensuring that you do not borrow more than you can repay.

Loan Comparison

The tool allows you to compare various loan options by adjusting parameters like loan amount, tenure, and interest rate, helping you choose the most affordable repayment plan.

Financial Planning

The detailed breakdown of the EMI gives you a clear picture of your repayment structure, enabling smart financial planning.

Prepayment and Foreclosure Planning

If you intend to repay the loan early, the calculator can help estimate how early repayments will impact your EMI and overall interest costs.

Factors Affecting Piramal Finance Personal Loan EMIs

Several factors influence the EMI for a Piramal Finance personal loan:

Loan Amount

A higher loan amount results in a higher EMI, while a smaller loan amount will lead to lower EMIs.

Interest Rate

The interest rate has a direct effect on the EMI. A higher interest rate increases the EMI, while a lower rate reduces it.

Loan Tenure

Extending the loan tenure reduces your monthly EMI but raises the total interest payable, while a shorter tenure increases the EMI yet lowers the overall interest levied.

Credit Score

A higher credit score often results in lower interest rates, thus reducing the EMI. A lower credit score can lead to higher interest rates and, consequently, higher EMIs.

Prepayment or Part-payment

Paying off part of the loan before the scheduled date can reduce the EMI or shorten the loan tenure.

Processing Fees

Additional fees, such as processing fees, may increase the overall loan cost, indirectly affecting the EMI.

Income and Debt-to-Income Ratio

Your income and existing liabilities influence the loan terms, including the EMI amount. A higher income and lower existing debt can help secure a loan with more favourable terms.

Personal Loan EMI Calculators for Other Lending Partners

Frequently Asked Questions

What is the maximum tenure on the Piramal Finance Personal Loan?

The maximum loan tenure offered by Piramal Finance typically ranges from 1 year to 5 years, depending on the loan amount and the borrower’s eligibility. This value is only indicative by the Piramal Finance Personal Loan Calculator and may vary based on the final loan approval process.

Yes, you can pay your Piramal Finance personal loan EMI online through various methods, including internet banking, mobile banking, and UPI payments.

Missing an EMI can result in late payment fees and may negatively impact your credit score. Continuous missed payments can lead to the loan being classified as non-performing, which can lead to legal action.

Yes, Piramal Finance offers flexible repayment options. By using the EMI calculator, you can adjust the loan amount, tenure, and interest rate to find a repayment plan that suits your financial situation.

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