## Introduction

EMI (Equated Monthly Installment) is the amount that you need to pay to the financial institution, until the loan amount is completely repaid. It is very necessary to plan the EMIs you need to pay, while applying for Personal Loan, so that you can manage your finances better. With Fullerton Personal Loan EMI Calculator, you can calculate your monthly EMIs and thus plan not to default on repayments. The loan EMIs depends on loan amount, repayment tenure, interest rates. You can set the values and find out the EMIs and check if you will be able to pay the EMIs on time or not.

## How to Use Fullerton Personal Loan Calculator

Using the Fullerton Personal Loan Calculator, you can calculate the EMI on your Personal Loan and plan your finances.

### Step 1:

• Choose the loan amount you require. The maximum loan amount is Rs. 25 Lakhs.
• ### Step 2:

• Now select the repayment tenure. It is between 12 to 60 months.
• ### Step 3:

• Select the interest rate
• ### Step 4:

• Once you set these values, you can find out the EMI you need to pay.

Example: Suppose you wish to avail a loan of Rs. 6 Lakhs with a repayment tenure of 42 months (3.5 years), and annual interest rate of 14% p.a. In the EMI Calculator, move ‘Loan Amount' slider to 6.00,000, move the rate of interest slider to 14% and loan tenure slider to 3.5 years. After you move all the slider to these values, you will get the EMI value that you need to pay per month, in this case Rs. 18,158.

## Benefits of Fullerton EMI Calculator

• ### Easy to use

The Fullerton EMI Calculator is really simple to use. Also it can be used as many number of times as you want, at no cost. It can be accessed anytime across any device.

• ### Real-time Results

As and when you set the details like amount, tenure, interest rate, you get realistic results according to inputs. The results change simultaneously as you change the inputs. This saves a lot of time as compared to manual calculations. Also, the output i.e EMI is inclusive of all the taxes, processing charges and any other associated charges. So, you can rest assured that you get accurate value and hence manage your finances accordingly.

## How is Fullerton Personal Loan EMI Calculated

EMI basically depends on loan amount, rate of interest and repayment tenure. And it can be calculated as by the following formula:

EMI = P × r × [(1 + r)n/((1 + r)n - 1)]

Where, P = Loan amount, r = the rate of interest, and n = repayment tenure in months.

EMI is directly proportional to the loan amount and Fullerton Personal Loan Interest Rate and inversely proportional to repayment tenure.

Before applying, do have a look on your CIBIL Score for free only at Bajaj Markets.

## How to Apply for Fullerton Personal Loan?

You can easily apply for a Fullerton India Personal Loan online on Bajaj Markets. Here are the steps:

Step 1: Online Form Filling: Fill in your personal and employment details.

Step 2: Select your Lending partner: From the list of loan offers, select Fullerton Personal Loan to proceed.

Step 3: Specify Personal Loan Details: Select the Fullerton India Personal Loan amount and repayment tenure as per your requirement.

Step 4: Upload the documents: Next, upload the scanned copies of all the required documents.

Step 5: Approval & Disbursal: Submit your application, and post the verification, you will get money in your account in just 30 minutes. *

*Terms and Conditions Apply

## Frequently Asked Questions on Fullerton Personal Loan

### ✔️ What factors affect personal loan EMI?

The factors that affect Personal Loan EMI are income, rate of interest, repayment history

### ✔️What happens if Fullerton personal loan EMI is not paid on time?

If EMIs are not paid on time, then your credit score will be affected. Also, you will have to pay some defaulting charges.

### ✔️Can I prepay Fullerton personal loan EMI?

Yes, you can prepay Fullerton personal loan EMI.

### ✔️Is GST applicable on personal loan EMI?

Yes, GST is applicable on personal loan EMI.

### ✔️What is Personal Loan Amortization Schedule?

Personal Loan amortization schedule includes the table representing periodic loan payments, with the mention of month-wise principal amount and rate of interest, till the end of the term.

### ✔️How can I reduce my personal loan EMI?

You can reduce your personal loan EMI by deciding on your loan amount, increasing the repayment tenure or by prepaying it.