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Indiabulls dhani Personal Loan EMI Calculator

1 Lac 3 Lac 6 Lac 9 Lac 12 Lac 15 Lac
149141924
10.40.81.20000000000000021.62
Total Payments

₹1,500,000

Total Interest-
₹0
Principal Amount-
₹1,500,000
Total EMI

₹0

EMI payment starting from

Balance
EMI Payment/Year
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹1,500,000
  • 13.99%
  • ₹0
  • 2

EMI payment starting from

Updated:

Dhani Personal Loans EMI Calculator

Applying for your Dhani Personal Loans is easy. Calculating your personal loan EMI is also a simple process when you use the Indiabulls Personal Loan EMI Calculator.

Get your personal loan EMI within a few seconds.

  • Enter the loan amount.
  • The rate of interest is the next step
  • Provide details of the loan tenure

You get the EMI amount instantly.

This Simple Interest Formula calculation will explain things better.

  • Access Indiabulls Dhani Personal Loan Calculator
  • Enter the loan amount - 1 Lakh
  • The rate of interest - 13.99%
  • Tenure of the loan - 36 months
  • You get your EMI as 3,417.00 instantly

The Indiabulls Dhani Personal Loan EMI Calculator is an ideal one for personal loans only. For housing loans, you can use the Indiabulls Housing Loan EMI calculator. The principle of calculating EMI is the same for all loans.

Indiabulls Personal Loan EMI Concept

The ideal method of repayment of the Indiabulls Dhani personal loan is the EMI mode. EMI represents Equated Monthly Instalment. This amount comprises of two variable components, the principal repayment component and the interest repayment portion.

In the initial stages of the loan, the interest repayment component will be more than the principal amount repayment. As you keep repaying your EMIs regularly, the principal amount keeps reducing. Therefore, the interest component reduces, as well. Thus, you notice that the principal repayment component increases with each subsequent EMI.

Indiabulls Dhani Personal Loan EMI Calculator Advantages

The Indiabulls Personal Loan EMI calculator offers the following benefits.

  • Saves time - Calculating the EMI is a time-consuming process. This online EMI calculation tool enables you to calculate the EMI instantly.
  • Accuracy - On entering the necessary details, you get the exact EMI amount.
  • No human error - There is no human involvement other than entering the required data. Therefore, there is no question of any human error creeping into the calculation.
  • User-friendly - Any person can use the EMI Calculator to determine the personal loan EMI.

Indiabulls Dhani - Different Types of Personal Loans

Two-wheeler LoanIdeal loan to purchase two-wheelers without any hassles
Used car loansPersonal loan for buying a second-hand car
New Car loanPersonal loans available up to 15 Lakhs for buying a brand-new car
Travel loanIdeal personal loan for financing your travel plans including flight tickets, hotel bookings, and so on
Wedding LoanFinancial assistance to take care of every expense of a wedding
Medical LoanInstant personal loan to cater to medical emergencies for yourself and other members of your family
Education LoanEducation loan to pay the university fees
Top-Up LoanA personal loan top-up facility extended for customers with a regular repayment record

Indiabulls Personal Loans Interest Rate and Other Charges

Indiabulls Dhani Personal Loans Interest Rates starting from 13.99% per annum. Indiabulls Dhani has a transparent pricing structure for personal loans.

Type of ChargeAmount in Percentage
Processing feesStarting from 3% onwards
Loan prepayment or foreclosure charges

Not allowed within the first six months

After six months - 5% of the foreclosure or prepayment amount.

Rate of interestStarting from 13.99% per annum
Cheque Bounce charges400 per instance
Penalty for late payment of an instalment3% per month
Stamp duty fees for loan documentationDepends on the state where you reside
Duplicate NOC500 per request
Swapping of repayment instructions or modes500 per request
Cancellation of loan3,000
Loan re-booking charges1,500
Statement of accounts500
Duplicate repayment schedule500
Cheque Bounce charges for self-employed750

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

Indiabulls dhani Personal Loan EMI Calculator FAQs

What type of interest rates do Indiabulls Dhani Personal Loans offer?

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Indiabulls Dhani Personal Loans offer fixed rates of interest to its customers. The rate of interest on the individual loans start from 13.99% and extends up to 30%. The rate of interest for individual borrowers depends on various factors.

  • The amount of loan - Higher the loan amount, the more could be the rate of interest
  • The loan tenure - Loans for longer tenures have higher interest rates
  • The purpose of the loan - Clean loans carry a higher rate, whereas asset-backed loans like two-wheeler and car loans cost less
  • The occupation of the applicant - The salaried applicant gets a benefit because of the consistency of income
  • The credit rating of the borrower - The better the credit score, the lower is the rate of interest for the borrower
  • The relationship of the borrower with Indiabulls - Existing customers of Indiabulls get a loyalty discount in the interest rates.

How does Indiabulls Dhani calculate the interest on the personal loan?

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Indiabulls calculates the interest on personal loans on a monthly reducing balance method. The company considers a month to be equal to 30 days, and a year equals 360 days.

Is this method of calculating interest beneficial to the borrower?

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If you compare this procedure of calculating interest with the daily reducing balance method, the latter is more beneficial to the customer. The commercial banks use this mode of calculating interest. The benefit is that the borrower gets the advantage of interest on the instalment paid during the month.

How does the concept of interest calculation on monthly reducing balance work?

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Monthly reducing balance - Indiabulls Dhani calculates interest for the present month on balance outstanding on the last day of the previous month. Thus the interest for December will be calculated on balance outstanding on November 30. Therefore, the borrower does not get the benefit of interest on the instalment paid in December.

Daily reducing balance - The commercial banks account for the instalments instantly for calculation of interest. On the payment of the instalment, the outstanding principal amount reduces immediately. Therefore, the borrower gets the benefit of interest on the instalment paid during the month.

Can you explain the concept using a concrete example?

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Let us make the following assumption.

  • Amount disbursed on November 01 is 1 Lakh
  • The rate of interest is 15% per annum
  • The instalment is due from December 01 onwards.
  • The comparison between the monthly reducing interest and daily reducing interest is as follows.
 Monthly reducing balanceDaily reducing balance
Balance outstanding on November 301,01,2501,01,250
Instalment due on December 013,5003,500
Balance Outstanding on December 3198,25098,250
The base for calculation of interestBalance as of November 30 = 1,01,250The base for calculation of interest = Daily reducing balance
Interest for December1,2651,228

Thus, you will find a difference every month. The daily reducing balance method is beneficial to the customer at any time.

For what purposes can I use a personal loan?

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Indiabulls Dhani offers personal loans for various purposes. You can use the personal loan for different purposes such as purchasing consumer durables, repairing your home, medical emergencies, educational and marriage expenses, and so on. However, you should ensure not to use the personal loan for an illegal purpose such as gambling and investing in races or betting. Similarly, you should not use the loan for speculative purposes like investing in shares or bullion.

Should I provide any collateral or guarantors for the personal loan?

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No, the personal loan is a clean one. There is no need to offer any collateral or guarantor for personal loans. These loans are provided with the minimum documentation.

Will the EMI calculator help me to calculate my eligibility?

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No, it will not help to calculate your eligibility. However, you can use the EMI calculator in a different way to estimate the maximum affordable loan amount. If you can afford an EMI of say, 10,000 per months, you can use this figure to calculate your loan affordability. We had seen that the EMI for 1 lakh for 36 months @ 13.99% was 3,417. Accordingly, the loan amount for an EMI of 10,000 for 36 months @ 13.99% is equal to 2.92 lakhs.

Can I apply for a personal loan through Indiabulls Dhani if I have an account with a cooperative bank?

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The Indiabulls Dhani personal loans are available depending on the eligibility criteria of the borrower. The bank where the applicant has an account does not have any significance. However, instant personal loans up to 20,000 are available only for the net banking customers in the following banks.

State Bank of India
Axis Bank
HDFC Bank
Yes Bank
ICICI Bank.

Is there any alternative method for applying to Indiabulls Dhani Personal Loan?

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No, Indiabulls Dhani Personal loans offer an online application facility through the dedicated mobile app alone. There is no alternative mode of application available.