Punjab and Sind Bank Personal Loan Calculator

Punjab and Sind Bank Personal Loan Calculator - Overview

The Punjab and Sind Bank Personal Loan Calculator is a financial tool that assists borrowers in estimating their monthly loan payments and total interest charges for Punjab and Sind Bank personal loans. By entering information such as loan amount, interest rate, and loan tenure, the calculator generates instant results that can assist borrowers in making informed decisions about personal loan borrowing. It can be a helpful resource for anyone considering getting a personal loan from Punjab and Sind Bank or comparing loan offers from other lenders.

Punjab and Sind Bank Personal Loan Calculator - Key Features

The following are the key features of the Punjab and Sind Bank Personal Loan Calculator:

• Loan Amount: Borrowers can enter the desired loan amount for their personal loan into the calculator. Borrowers can estimate their monthly payments and total interest charges by entering the interest rate offered by Punjab and Sind Bank or other lenders.
• Loan Tenure: To get an accurate estimate of their monthly payments, borrowers can choose the loan tenure for their personal loan, which ranges from 1 to 5 years.
• Instant Results: The calculator returns instant results based on the borrower's inputs, making it simple to estimate monthly payments and interest charges.
• Comparison Tool: Borrowers can use the calculator to compare loan offers from various lenders, allowing them to make an informed decision about their loan borrowing.
• Simple to Use: Because the calculator is simple and does not require specialised knowledge or skills, it is accessible to anyone looking to estimate their loan payments and interest charges.

Why Should You Use Punjab and Sind Bank Personal Loan EMI Calculator? 

You should use the Punjab and Sind Bank Personal Loan EMI Calculator for several reasons:

• Accurate Estimates: Based on the loan amount, interest rate, and loan tenure you enter, the calculator provides accurate estimates of your monthly loan payments and total interest charges. This allows you to plan your finances better.
• Saves Time: By providing instant results, the EMI calculator saves you time by allowing you to quickly compare loan options and make an informed decision about your personal loan borrowing.
• Simple to Use: The calculator is simple and requires no specialised knowledge or skills. You can easily enter your loan information and receive instant results.
• Aids in Budgeting: Using the calculator, you can estimate the amount of EMI you will be required to pay, which can help you plan and manage your monthly expenses.

Punjab and Sind Bank Personal Loan EMI Calculator Formula & Example 

The formula to calculate the EMI using the Punjab and Sind Bank Personal Loan EMI Calculator is as follows:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where,

• P = Loan Amount
• R = Interest Rate (per month)
• N = Loan Tenure (in months)

For example, let's say you have taken a personal loan of Rs. 5 lakhs from Punjab and Sind Bank for 36 months at an interest rate of 10.5% per annum. Using the EMI calculator formula, we can calculate the monthly EMI as follows:

EMI = [5,00,000 x 0.00875 x (1+0.00875)^36] / [(1+0.00875)^36-1] EMI = Rs. 16,139 (approx.)

Therefore, your monthly EMI for the personal loan from Punjab and Sind Bank would be Rs. 16,139. Using the EMI calculator, you can adjust the loan amount, interest rate, and tenure to find an EMI amount that suits your budget and repayment capacity.

Benefits of using Punjab and Sind Bank Personal Loan EMI Calculator 

Using the Punjab and Sind Bank Personal Loan EMI Calculator can offer some blessings:

• Specific calculations: The EMI calculator performs unique calculations primarily based on the loan amount, interest charge, and mortgage tenure, allowing borrowers to reap a correct estimate of their monthly payments and interest charges.
• Time-saving: When compared to manually calculating the EMI for non-public loans, the EMI calculator is quick and clean to apply.
• Budget training: Borrowers can use the EMI calculator to calculate their monthly EMI and plan their finances accordingly.
• Loan amount adjustment: Borrowers can use the EMI calculator to regulate the loan quantity, interest charge, and tenure to discover an EMI that suits their finances.

The EMI calculator can be used to examine mortgage gives from diverse lenders that allow you to locate the first-rate personal mortgage alternative.

The EMI calculator is user-friendly and does not require specialised knowledge or abilities, making it accessible to everyone.

Factors Affecting Punjab and Sind Bank Personal Loan EMI 

The following factors influence the EMI of a personal mortgage from Punjab and Sind Bank:

• Loan amount: The loan amount is at once proportional to the EMI. A larger mortgage quantity means a higher EMI.
• Interest Rate: It is the cost of borrowing money and is used to calculate the EMI. A higher interest charge means a better EMI.
• Mortgage Tenure: It is the length for which the mortgage is taken out. A longer mortgage term affects a decreased EMI, while a shorter mortgage term affects a better EMI.
• Prepayment: The EMI can be affected if the loan quantity is paid off early. When a borrower makes a prepayment, the mortgage period is reduced and the EMI is expanded.
• Credit Rating: The EMI may be laid low with a borrower's credit score. A better credit rating may bring about a decreased interest rate, and, thus a decrease in EMI.
• Income: The borrower's profits can also affect the EMI. Higher earnings can lead to a bigger loan amount, which could result in a higher EMI.

Comparison of Punjab and Sind Bank Personal Loan EMI with other Banks

The EMI quantity for a Punjab and Sind Bank Personal Loan can range relying on several factors, including mortgage quantity, interest charge, tenure, and credit rating, amongst others. Punjab and Sind Bank Personal Loan at hobby charges ranging from nine.15% to 13.15% in line with annum. In contrast, the State Bank of India (SBI) presents private loans with annual interest charges starting from nine.60% to 13.60%, relying on the borrower's credit score and different elements. Personal loans are available from HDFC Bank at interest prices ranging from 10.25% to 22% according to the annum, relying on the borrower's credit score, earnings, and different factors. Personal loans are to be had from ICICI Bank at interest costs ranging from 10.50% to 21.00% according to the annum, depending on the borrower's credit rating, profits, and different factors. Overall, before selecting a personal mortgage that suits their price range and repayment potential, debtors must examine the hobby costs and EMI amounts offered through exceptional banks.

Punjab and Sind Bank Personal Loan Amortisation Calculator 

Punjab and Sind Bank Personal Loan Amortisation Calculator is a financial device that lets borrowers calculate the monthly instalments (EMIs) and generate an amortisation timetable for their private loans. An amortization schedule is a table that shows the breakdown of every EMI price into its main and interest components and how the loan stability modifications over the years.

With the help of the Punjab and Sind Bank Personal Loan Amortization Calculator, debtors can alter the loan quantity, hobby charge, and mortgage tenure to get an estimate of their monthly payment and create an amortization agenda. This tool can assist borrowers plan their finances and make informed choices about their mortgage payments.

Amortisation Schedule for a Personal Loan of ₹ 35 Lakh over the 15 years 

Here is an amortisation schedule for a personal loan of ₹35 lakhs over 15 years, assuming an interest rate of 10% per annum:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	₹35,00,000	₹41,257	₹1,91,773	₹3,44,266	₹33,08,227
2	₹33,08,227	₹41,257	₹2,05,708	₹3,30,330	₹31,02,518
3	₹31,02,518	₹41,257	₹2,20,131	₹3,15,907	₹28,82,387
4	₹28,82,387	₹41,257	₹2,35,062	₹3,01,976	₹26,47,324
5	₹26,47,324	₹41,257	₹2,50,524	₹2,86,514	₹23,96,800
6	₹23,96,800	₹41,257	₹2,66,542	₹2,70,496	₹21,30,257
7	₹21,30,257	₹41,257	₹2,83,138	₹2,53,900	₹18,47,119
8	₹18,47,119	₹41,257	₹3,00,339	₹2,36,699	₹15,46,779
9	₹15,46,779	₹41,257	₹3,18,170	₹2,18,868	₹12,28,609
10	₹12,28,609	₹41,257	₹3,36,660	₹1,00,521	₹8,91,949
11	₹8,91,949	₹41,257	₹3,55,839	₹81,342	₹5,36,110
12	₹5,36,110	₹41,257	₹3,75,737	₹61,444	₹1,60,373
13	₹1,60,373	₹41,257	₹3,96,387	₹40,794	₹0

Punjab and Sind Bank Personal Loan EMI for ₹ 10 Lakh 

Here is the amortisation schedule for Punjab and Sind Bank and Central Bank of India Personal Loan EMI of ₹10 lakh over a 10-year loan term at an interest rate of 10%:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	1,000,000	158,982	119,451	39,531	880,549
2	880,549	158,982	126,063	32,919	754,485
3	754,485	158,982	132,942	26,040	621,543
4	621,543	158,982	140,102	18,880	481,440
5	481,440	158,982	147,558	11,424	333,882
6	333,882	158,982	155,325	3,657	178,557
7	178,557	158,982	163,418	-4,436	15,139
8	15,139	158,982	171,854	-13,823	0
9	0	0	0	0	0

Punjab and Sind Bank Personal Loan EMI for ₹ 20 Lakh 

Here is the amortization schedule for Punjab and Sind Bank and Central Bank of India Personal Loan EMI of ₹20 lakh over a 10-year loan term at an interest rate of 10%:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	2,000,000	332,176	224,704	107,472	1,775,296
2	1,775,296	332,176	239,756	92,420	1,535,540
3	1,535,540	332,176	255,902	76,274	1,279,638
4	1,279,638	332,176	273,178	59,998	1,006,460
5	1,006,460	332,176	291,619	40,557	714,841
6	714,841	332,176	311,262	20,914	403,578
7	403,578	332,176	332,148	0	71,430
8	71,430	332,176	354,317	-21,839	0
9	0	332,176	0	0	0

Punjab and Sind Bank Personal Loan EMI for ₹ 25 Lakh 

Here is the amortisation schedule for Punjab and Sind Bank and Central Bank of India Personal Loan EMI of ₹25 lakh over a 10-year loan term at an interest rate of 10%:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	2,500,000	415,024	233,901	181,123	2,266,099
2	2,266,099	415,024	251,306	163,718	2,014,794
3	2,014,794	415,024	269,903	145,121	1,744,891
4	1,744,891	415,024	289,720	125,304	1,455,171
5	1,455,171	415,024	310,787	104,237	1,144,384
6	1,144,384	415,024	333,137	81,887	811,247
7	811,247	415,024	356,802	58,222	454,445
8	454,445	415,024	381,817	33,207	72,628
9	72,628	415,024	408,220	6,804	0
10	0	0	0	0	0

Punjab and Sind Bank Personal Loan EMI for ₹ 30 Lakh 

Here is the amortisation schedule for Punjab and Sind Bank and Central Bank of India Personal Loan EMI of ₹30 lakh over a 10-year loan term at an interest rate of 10%:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	3,000,000	398,963	237,813	161,150	2,762,187
2	2,762,187	398,963	257,534	141,429	2,504,652
3	2,504,652	398,963	278,183	120,780	2,226,468
4	2,226,468	398,963	299,827	99,136	1,926,641
5	1,926,641	398,963	322,540	76,423	1,604,101
6	1,604,101	398,963	346,401	52,562	1,257,700
7	1,257,700	398,963	371,489	27,474	886,211
8	886,211	398,963	397,889	1,074	488,322
9	488,322	398,963	425,697	-26,266	62,625
10	62,625	62,625	62,625	0	0

Punjab and Sind Bank Personal Loan EMI for ₹ 50 Lakh 

Here is the amortisation schedule for Punjab and Sind Bank and Central Bank of India Personal Loan EMI of ₹50 lakh over a 10-year loan term at an interest rate of 10%:

Year	Beginning Balance	EMI	Principal	Interest	Ending Balance
1	5,000,000	798,826	600,755	198,071	4,399,245
2	4,399,245	798,826	635,872	162,954	3,763,373
3	3,763,373	798,826	672,089	126,737	3,091,284
4	3,091,284	798,826	709,475	89,351	2,381,809
5	2,381,809	798,826	748,109	50,717	1,633,699
6	1,633,699	798,826	788,074	10,752	845,625
7	845,625	798,826	829,456	-30,630	16,169
8	16,169	798,826	872,345	-74,481	0
9	0	0	0	0	0