AU Small Finance Bank Credit Card EMI Calculator

The AU Small Finance Bank credit card EMI calculator is a free online tool that helps cardholders calculate their monthly EMIs for purchases converted into instalments. It simplifies EMI calculations for easier financial planning. Users can simply enter their loan amount, applicable interest rate, and tenor to get an estimate of their monthly obligations, making budgeting and repayment more manageable.

This EMI calculator works by applying the principal amount, interest rate, and chosen tenor to the standard EMI calculation formula. Upon entering these values, the calculator provides an accurate breakdown of your monthly EMI amount, total interest payable, and the overall amount payable. This tool can also function as the AU Small Finance Bank credit card interest rate calculator, as it factors in the applicable interest rate for EMI conversions.

The AU Small Finance Bank credit card EMI calculator is a straightforward and easy-to-use tool. It requires minimal information, which is easily accessible for the cardholder. Here is how to use the credit card EMI calculator:

1. Enter the total outstanding amount you want to convert into monthly instalments.

2. Enter the applicable interest rate.

3. Choose the repayment tenor you are comfortable with.

    

Upon clicking ‘Calculate’, you will be able to view your EMI amount and the interest payable over the chosen tenor.

The AU Small Finance Bank credit card EMI calculator uses a simple formula to establish the cardholder's monthly financial obligation. Here is the formula:

 

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

 

Wherein, 

• P stands for the principal loan amount

• R stands for the monthly interest rate

• N stands for the tenor (in months)

 

Here is an example that will help you understand how this formula works:

 

If you made a purchase of ₹1,20,000 on your AU Small Finance Bank credit card and were looking to convert it into EMIs over 12 months, the interest rate applicable for this conversion would be 18% p.a., translating to 0.015.

• P = ₹1,20,000

• R = 1.5% or 0.015

• N = 12 months

 

The EMI calculation would be:

• EMI = [P x R x (1+R)N] / [(1+R)N-1]

• EMI = [₹1,20,000 x 0.015 x (1+0.015)12] / [(1+0.015)12 - 1]

• EMI = ₹2,151.39 / 0.195618 

• EMI = ₹10,992

 

The EMI for a ₹1,20,000 credit card purchase, converted to a 12-month EMI with an interest rate of 18% p.a., will be approximately ₹10,900 per month.