Poonawalla Personal Loan Calculator
Poonawalla offers personal loans of up to Rs. 50 Lakhs with flexible tenures of 12 to 84 months, at a 9.99% p.a. onward interest rate. Poonawalla Fincorp Personal Loan EMI Calculator is an online tool that helps you calculate your personal loan EMI for your choice of loan amount, tenure, and interest rate. The calculator is easy to use and provides instant results.
Benefits of Poonawalla Fincorp EMI Calculator
Below are some of the benefits of using the Poonawalla Fincorp EMI Calculator:
- Planning the loan tenure: When applying for a personal loan, the EMI calculator helps you plan the loan tenure and decide a suitable one.
- Planning the loan repayment: Timely loan repayment is a healthy financial habit. It helps create a good image of the borrower and makes them creditworthy in the lender’s eyes. Also, it helps them maintain a good credit score and plan their repayment schedule.
- Easy to use: The tool is easy to use, allowing you to understand loan tenure, loan repayment, monthly EMI, and other factors. Before applying for a loan, it is advisable to use the EMI calculator.
How Does Poonawalla Calculate Personal Loan EMI
Poonawalla calculates the personal loan EMI using the following formula:
E = [P x R x (1+R) N] / [(1+R) (N-1)]
Where,
- The letter 'P' stands for the principal loan amount.
- The letter 'N' stands for the tenure (in years)
- The letter 'R’ stands for the interest rate
Reasons to Use the Poonawalla Personal Loan EMI Calculator
Here are some reasons to use the Poonawalla personal loan EMI calculator:
- The online loan calculator helps people borrow efficiently and optimally.
- It can save you money in the form of interest.
- You can easily calculate the interest amount and know your repayment schedule within seconds.
- Poonawalla Fincorp EMI calculator tool allows you to calculate your EMI depending on a variety of scenarios.
- Multiple loan amounts, tenures and interest rates can be chosen, and the appropriate EMI can be calculated within seconds.
- There is less chance of human errors as the tool provides accurate results.
- It is easy to use, accessible from the lender’s official website, and incredibly user-friendly.
How to Check Poonawalla Fincorp Loan Repayment Schedule
The easiest and fastest way to check your Poonawalla Fincorp loan EMI and repayment schedule is by using the Personal Loan EMI calculator available on its website. All you need to do to calculate your EMI payments is to enter the loan amount, repayment tenure, and interest rate. The result will be generated instantly.
An online EMI calculator can be a great way to know your monthly EMIs without doing any prone to error manual calculations. Poonawalla offers an easy-to-use online EMI calculator on its official website to help you understand your entire repayment schedule. To use the calculator for checking the repayment schedule, follow the steps given below:
- Enter the required loan amount
- Enter the interest rate offered to you
- Enter a preferred loan tenure (in years)
- Click the ‘Calculate’ button.
The tool will give an instant automated response for your monthly EMI amount. For example, if your loan amount is Rs. 20 Lakhs, the interest rate is 10% p.a., and you wish to repay it n over a tenure of 7 years, your monthly EMI amount will be Rs. 33,202.
You also get the following two options on the page:
- Check Repayment Schedule: To view your entire loan repayment schedule.
- Download Repayment Schedule: To download the amortization schedule for our loan.
FAQs
Loan amount, repayment tenure and interest rate applicable on the loan are the three main deciding factors that influence your personal loan EMIs.
A Personal Loan EMI Calculator helps you plan repayments by allowing you to easily calculate your EMIs based on the loan amount, tenure, and interest rate, giving you a clear picture of how much you have to pay every month and enabling you to manage your budget effectively and compare different loan options before availing of a personal loan.
Poonawalla Fincorp offers a maximum of Rs. 50 Lakhs as personal loan amount.
An EMI calculator helps in lowering the EMI amount by allowing you to experiment with different loan components including the loan tenure and down payment, which helps you analyse how adjusting these factors can affect your EMIs, ultimately helping you choose the right combination that results in a more affordable EMI amount by increasing your loan tenure or down payment.
Yes, prepayment of a loan can help you reduce your EMI because prepayment reduces the overall outstanding loan amount, which reduces your interest burden in the future.
Yes, you can pay all your EMIs at once by requesting a foreclosure of your loan. This process is known as prepayment.
Yes, Poonawalla Fincorp is a reliable lender with a smooth application process and instant disbursal of funds. Once you apply for the loan online and get approval, the entire disbursal process happens online, and the funds are credited to your bank account.
Yes, Poonawalla Fincorp is regulated by the RBI (Reserve Bank of India). Poonawalla is a non-banking financial company (NBFC), registered with the RBI.
The EMI for a ₹2 lakh personal loan from Poonawalla Fincorp for a tenure of 3 years depends on the applicable interest rate. For instance, the EMI for a Rs. 2 Lakh loan for 3 years tenure at an interest rate of 10% p.a. will be Rs. 6,453.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.