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)

EMI of (4 years)

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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)

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:

- Once you have decided that you want to finance something by taking out a loan, you need to do the math to figure out the EMI.
- No matter what kind of loan that you are interested in (Personal Loan, Home Loan,Student loan etc.), you need to figure out how much it will cost you per month and whether you can manage to take the loan with your current income.
- The EMI can be calculated manually or by using an online calculator. The information that you will need to do this calculation include the amount that you want to borrow, the interest that will be charged and the processing fee that will be charged for the loan.
- If your calculation show that the EMI is too much for you to afford, you need to figure out how to reduce it. You can either reduce EMI by adjusting the loan tenure or the loan amount that you want to borrow.

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:

- E is EMI
- P is the Principal Loan Amount
- r is the rate of interest calculated on a monthly basis
- n is the tenure/duration of the loan

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:- The EMI which is the amount that you will be expected to pay monthly and is thus the deciding factor when it comes to whether you can afford the loan. It includes payments of the principal and the interest that is applicable on the loan.
- The breakup, which gives the borrower a clear picture of how much of their EMI is going to where their money is going to the repayment of principal, interest and processing fee.
- Some online EMI Calculators also show the Amortisation table which shows the progression of the loan and thus give you an idea of how much you will have repaid at the end of each year, while the loan progresses. Moreover, it shows you how the interest will be paid back; that is, how much of the initial months’ EMIs will be the interest and how much of it will be the principal.

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