8 Lakh Personal Loan
8 Lakh Personal Loan EMI
Here's how much EMI you'd pay for a 8 lakh personal loan.
Bank |
Loan Amount |
Tenure / Months |
EMI |
RBL - Ratnakar Bank |
₹ 8,00,000 |
12 |
₹ 71,830 |
IFL - India Infoline |
₹ 8,00,000 |
12 |
₹ 71,826 |
IBL - IndusInd Bank |
₹ 8,00,000 |
12 |
₹ 71,075 |
**Loan EMI or Interest Rate changes with individuals and is * Subject to Risk Profile
** We Offer Personal Loans up to 5 Years - the chart shows only for 1 Year. Please contact us if you need Loan for a longer tenure.
Example: A loan offer of ₹2 Lakh, for a tenure of 3 years at an interest rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
EMI of ₹7091 per month
Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
Interest Rate & Other Charges
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
|
1% to 5% of total loan amount
|
Loan Amount
|
₹1,00,000 to ₹15,00,000
|
Loan Tenure
|
12 to 60 months
|