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## CASHe Personal Loan EMI Calculator

CASHe is a popular online financial platform that provides instant Personal Loans. Salaried individuals can avail of a Personal Loan of up to ₹4 Lakhs as long as they meet the eligibility criteria. CASHe Personal Loan comes with a nominal interest rate ranging from 2.25% - 2.5% per month. This Personal Loan can be used for several purposes such as meeting your daily expenses, planning a vacation, medical emergencies, etc.

Loan Amount
Tenure
• Months
• Years
Rate of Interest
%

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

You can use the Personal Loan EMI Calculator, available on Finserv MARKETS, to estimate the monthly EMI that you have to repay after availing of the Personal Loan. This would help you plan your finances in advance. Know how EMI calculation works, how you can repay your EMI, factors affecting your EMI, and more.

## How Does the CASHe Personal Loan EMI Calculator Function?

EMI is essentially the Equated Monthly Installment that you have to pay every month that helps you gradually repay your loan. Being regular with your EMI payment can help you avoid penalties and dues. You can use the CASHe EMI Calculator to calculate personal loan EMI. By estimating your EMI beforehand, you can plan your finances and understand if you would be able to successfully pay your dues on time. To calculate your EMI, all you have to do is fill in 3 important values to calculate your EMI. Here are the 3 inputs:

• ### Loan Amount

First, estimate the amount of money that you would like to borrow through the CASHe Personal Loan.

• ### Tenure

The tenure is the amount of time in which you can repay your Personal Loan. CASHe provides a flexible tenure ranging from 3 months to 1 year.

• ### Rate of Interest

This is the amount that is charged on a Personal Loan, along with the principal amount. CASHe provides a nominal interest rate in the range 2.25% - 2.5% per month. By entering all of these values into the CASHe EMI Calculator, you can calculate your monthly EMI.

## Personal Loan EMI Calculation Formula

The Personal Loan EMI is calculated depending on the method of interest calculation that is used by the bank or lender. There are 2 main types of interest calculation - flat rate method and reducing balance method.

• ### Flat Rate Method

Using the flat rate method, the EMI formula is as below. EMI = (Principal + Interest)/Loan Tenure (in months) For example, consider that you avail of a Personal Loan of ₹2 Lakhs at an interest rate of 2.75% per month for a tenure of 12 months. Then, your interest for 1 year would be ₹66,000. Hence, your EMI = (₹2 Lakhs + ₹66,000)/12 = ₹22,166.

• ### Reducing Balance Method

This method compounds the interest on the outstanding amount to be paid. EMI - [P * ( R/100) * (1 + ( R/100))^N]/[1+(R/100)^(N-1)] Here, P in the loan amount, R is the interest rate, and N is the tenure. Consider the same loan amount of ₹2 Lakhs at an interest of 2.75% per month for 12 months of tenure.

EMI = [₹2 Lakh * (2.75/100) * (1+(2.75/100))^12]/[1+(2.75/100)^(12-1)] = ₹19,794.

## CASHe Personal Loan EMI Calculation

CASHe Personal Loan EMI Calculator calculates your monthly EMI using the principal amount, tenure, and the interest rate. Here is a list of the different EMI depending on the tenure and the interest rate offered by CASHe.

Loan Amount

Interest rate (per annum)

Repayment Tenure

3 months

6 months

12 months

₹1 Lakh

28.8%

₹35,295

₹18,275

₹9,787

₹2 Lakhs

28.8%

₹70,241

₹36,370

₹19,476

₹3 Lakhs

28.8%

₹1,05,187

₹54,464

₹29,166

## How to Pay CASHe Personal Loan EMI?

While repaying CASHe personal EMI, you can opt for any of the following methods:

• IMPS

• UPI

• NEFT

You can repay your loan through the CASHe app as the repayment process has been made easy.

## Factors Affecting CASHe Personal Loan EMI

There are 4 main factors that affect the Personal Loan EMI. Let us have a look at them.

• ### Principal Amount

The more principal you borrow, the higher will be the monthly EMI you have to repay.

• ### Interest Rate

Typically, if you avail of a Personal Loan with a higher interest rate, you would have higher EMI payouts.

• ### Tenure

This is the period of time you take to repay your loan. If your tenure is long, then you would have to pay higher EMI payouts. However, this would increase the total accumulated interest.

• ### Method of Interest Calculation

Depending on the interest calculation method used by the lender, your EMI would vary. If your lender used the reducing balance method, your EMI can be slightly lesser compared to the interest calculated by the flat rate method.