IDBI Bank Personal Loan EMI Calculator will help you to find out your Personal Loan EMI and interest cost based on your loan amount, tenure and interest rate. It will help you to choose your loan amount and loan tenure based on your repayment capacity.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Personal Loan Interest Rate Comparison of different Banks
| Banks/NBFCs | Interest Rates(p.a.) | |
| HDFC Bank | 10.85% onwards | Apply Now |
| Axis Bank | 11.25% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
IDBI Bank Personal Loan EMI Calculation
IDBI Bank makes use of the reducing balance method to compute the EMI payable on its personal loans. The following table gives different possible EMIs with varying combinations of loan amount, tenure and interest rate.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
| 1 lakh | 9.50% | 12 | 8,768 |
| 2 lakh | 12% | 24 | 9,415 |
| 3 lakh | 11% | 36 | 9,822 |
| 4 lakh | 15% | 48 | 11,132 |
| 5 lakh | 17% | 60 | 12,426 |
Charges Levied on Non Payment of EMI
The following charges may be levied in case IDBI Bank personal loan EMI payments are not made on time:
| Particulars | Charges |
| Penal Interest charges on overdue amount for delayed period | 4% p.a. on the amount overdue and the overdue period |
Factors Affecting IDBI Bank Personal Loan EMI
Given below are a few key factors which affect IDBI Bank personal loan EMIs:
- Loan Amount: It refers to the principal amount that you borrow from IDBI Bank. A higher loan amount usually means higher EMI payouts, provided loan tenure and interest rate remain the same.
- Interest Rate: It refers to the rate at which the lender charges interest on the amount borrowed. A higher interest rate generally means higher EMI payouts and vice versa.
- Loan Tenure: It refers to the period over which loan repayment can be made. A shorter tenure usually means higher EMI payouts. However, it may help you save on the total interest payout of the loan.
- Interest Calculation Method: The EMI payable also depends on the method of interest calculation used by the lender. EMIs calculated using the flat rate method are generally higher than those calculated using the reducing balance method, if loan parameters remain unchanged.
FAQs
Q1. Why is it important to know the EMI before you apply for IDBI Bank personal loan?
It is essential to calculate your EMI before applying for IDBI Bank personal loan so as to borrow only as per your need and repayment ability.
Q2. What is the maximum number of EMIs within which I repay my IDBI Bank personal loan?
IDBI Bank personal loans can be repaid over a flexible tenure ranging between 12 to 60 months. Therefore, you can repay your personal loan in a maximum of 60 EMIs.
Q3. How is interest charged on my IDBI Bank personal loan?
Interest is charged at a predetermined rate on reducing balances. It is debited to the loan account at end of every month (i.e. monthly rests)