Personal Loan EMI Calculator

If you are new to the world of finance, you may not understand what the people at the bank mean when they say ‘EMI’. Fear not, because we are here to tell you everything you need to know about EMIs.

Net Monthly Salary
Current EMIs (Excluding the loans that are ending in the next 3 months)
You are eligible for a loan of
EMI of (4 years)
Sorry! You are currently not eligible for a loan with Qbera.
EMI starting from ₹2,733/lac*
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Net Monthly Salary
Current EMIs (Excluding the loans that are ending in the next 3 months)
You are eligible for a loan of
EMI of (4 years)
Sorry! You are currently not eligible for a loan with Qbera.
EMI starting from ₹2,733/lac*

What is an EMI?

EMI is the abbreviation for ‘Equated Monthly Instalment’. If you avail a loan, until it is repaid in full, the borrower will have to pay a portion of the entire amount each month to the lender, this amount is known as EMI. This amount will include the interest due on the loan and a portion of the principal amount. Even though the EMI paid monthly remains the same each month, the proportion of interest and principal changes. In the initial stages of the loan, a major portion of the EMI payment constitutes of the interest. The principal outstanding reduces as the loan period progresses, and the portion of interest that’s to be paid decreases. This method carries on until the end of the loan period when the borrower has completed paying off the entire loan amount.

Calculating Personal Loan EMI:



How does an Personal Loan EMI Calculator Work?

If you are a math-whiz, you can sit and calculate EMIs using a paper, pencil and the formula:
E = P x r x (1+r)^n/((1+r)^n – 1).

Where: However, if you (like many of us) find that to be too complicated or just want to save time, you can simply head on over to the internet and use an EMI calculator. Don’t forget about the processing fee, which is usually around 1-3%, and will vary according to the bank or institution that you borrow the amount from. You can go to Qbera’s website to find a very user-friendly Personal Loan EMI calculator.

How to use an Personal Loan EMI Calculator?

EMI Calculators are very simple to use. Simply plug in the loan amount, the tenure (in months) and the rate of Interest by moving the sliders to the left or right, adjusting the value. The calculator will immediately give you the EMI information that you are looking for. The calculator provides the following information:

QBERA

We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.50,000 to Rs.7,50,000. APR ranges from 14% to 24%. Loan lengths range from 12 to 48 months. Administration fee ranges from 2% to 4%.

* Subject to Risk Profile

E-mail: contact@qbera.com
Phone: 1800 4198 121
Whatsapp:+91 89719 28484
Address:
1st Floor, Wolfpack Workspaces,
#39, 8th Main Road,
Vasanth Nagar.
Bangalore 560 052

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