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J&K Bank Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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What is Personal Loan EMI?
It is the amount the borrower has to pay every month until the end of their loan tenure. Borrowers are required to pay their personal loan EMI amount, which includes both the principal as well as the interest component of the loan on a monthly basis until the amount is repaid in full. Personal loan borrowers should also note that the EMI will remain the same throughout the repayment period.
What is J&K Bank Personal Loan EMI Calculator?
J&K Bank Personal Loan EMI Calculator is an online tool offered by J&K Bank that helps its prospective loan borrowers to calculate the loan installment amount they will be required to pay every month. The EMI amount would also vary based on J&K Bank Personal Loan Interest Rate, loan amount and repayment tenure selected by the individual. Besides, the prospective borrowers can also use the Paisabazaar’s Personal Loan EMI Calculator to choose optimal tenure and EMIs for their J&K Bank Personal Loan based on their repayment capacity.
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How do I Select the ROI for J&K Bank Personal Loan EMI?
Paisabazaar’s J&K Bank Personal Loan EMI Calculator offers the option of selecting interest rate from a wide range of ROIs. Prospective borrowers of personal loans can select different combinations of loan amounts, interest rates and repayment tenures to find specific EMIs for each combination. However, it is important to note that the final interest rates offered for J&K Bank Personal Loan would be based on the eligibility of the borrower, which also depends on several factors like age, credit score, repayment capacity, monthly income, etc.
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 |
Note: Interest rates as of 10th July 2023
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What are the Factors Affecting J&K Bank Personal Loan EMI?
Here are some common factors that may affect your J&K Bank Personal Loan EMI:
Interest Rate
J&K Bank Personal Loan Interest Rates range between 11.90% to 12.90% p.a. Personal loans availed at lower interest rates would result in lower EMIs and interest costs. On the other hand, personal loans availed at higher interest rates would result in higher EMIs and interest rates. For that reason, it is better to compare the personal loan interest rates offered by top lenders before applying for J&K Bank Personal Loan.
Loan Tenure
J&K Bank offers personal loans for tenures of up to 10 years. The existing personal loan borrowers can consider reducing their EMIs by choosing longer repayment tenures. However, choosing longer repayment tenures can also increase the total interest cost of the personal loan. For that reason, those who are planning to avail J&K Bank Personal Loan should consider using the J&K Bank Personal Loan EMI Calculator to find the optimal loan tenure based on their repayment capacity.
Loan Amount
J&K Bank offers personal loan amounts depending on the J&K Bank Personal Loan scheme chosen. The higher the loan amount, the higher would be the EMIs and total cost of interest. Personal loan applicants should also note that their personal loan eligibility would primarily depend on the repayment capacity and loan tenure.
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Benefits of Using J&K Bank Personal Loan EMI Calculator
The major benefits of using J&K Bank Personal Loan EMI Calculator are as follows:
Quick Results
J&K Bank Personal Loan EMI Calculator would help calculate complex EMI calculations in seconds and hence, save a lot of time. It would also help avoid the chances of errors that arise during manual calculations involving complicated formulas.
Ease of Access
J&K Bank Personal Loan EMI Calculator helps the prospective loan applicants to calculate their EMI amount without any hassle. All you have to do is enter the principal loan amount, interest rate and choose the desired loan tenure to find the value of your monthly installments.
Improve Personal Loan Eligibility
Lenders usually approve the personal loan applications of applicants whose total EMI obligations, including that of the proposed loan EMI, does not exceed 50-60% of their total monthly income. Using J&K Bank Personal Loan EMI Calculator will also give the prospective loan applicants a fair idea of their EMIs. The applicants exceeding the mentioned limit would be able to reduce the EMI when making their personal loan application. Along with improving the eligibility for J&K Bank personal loan, it will also help the prospective applicants to improve their chances of getting their personal loan approved.
Healthy Credit Score
Personal loan applicants who use the J&K Bank Personal Loan EMI Calculator to calculate their monthly installments would be better prepared to manage their finances for loan repayments within the given tenure. Such applicants would also have fewer chances of defaulting on their EMIs, which in turn will help improve or maintain their credit scores.
Budget Management
Since the EMI amount for personal loans availed at fixed interest rates remain constant during the entire tenure of the loan, the applicants can use J&K Bank Personal Loan EMI Calculator to find the exact amount they have to repay every month. This way, they would get the chance to find out their repayment capacity and accordingly adjust their monthly expenses accordingly to fit in the EMI amount.
Considering the above-mentioned factors, prospective personal loan applicants can use the J&K Bank Personal Loan EMI Calculator to determine the optimum tenure and EMI for their J&K Bank Personal Loan based on their repayment capacity. They can also use the Paisabazaar’s Personal Loan EMI Calculator to find and compare the personal loan EMIs of other lenders as well.
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