Any actions taken or obligations created voluntarily by the person(s) accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken. The use of such websites would be subject to the terms and conditions of usage as stipulated in such websites and would take precedence over the terms and conditions of usage of in case of conflict between them. This is to inform you that by clicking on the hyper-link/ok, you will be accessing a website operated by a third party namely Such links are provided only for the convenience of the Client and Axis Bank does not control or endorse such websites, and is not responsible for their contents. Please read and agree with the disclaimer before proceeding further. This is because EMIsĪre computed on a reducing balance method, which works in your favour as a borrower.Īt your request, you are being redirected to a third party site. With sufficient work experience, a good number of years before retirement, have low or no EMIs, and your credit score is respectable (750 and above), you could be eligible for a personal loan at an attractiveĭo note that during the initial months of the loan tenure, you pay more towards interest, and gradually, as you repay the loan, a higher portion is adjusted towards the principal component. If you are young and earning a decent, steady source of income Similarly, a shorter loan tenure increasesĪxis Bank offers Personal Loan at a competitive rate of interest. Higher the interest rate on the loan, higher will be your EMI and vice-versa. Remember, the interest rate and your loan tenure are the vital deciding factors for your loan EMI. For instance, if R = 15.5% per annum, then R= 15.5/12/100 = 0.0129.įinding it complicated? Don’t worry! Use Axis Bank’s Personal Loan EMI calculator. The rate of interest (R) on your loan is calculated monthly i.e. So, say you are applying for a personal loan from Axis Bank, amounting to Rs 2,00,000 at a rate of interest of 15.5% p.a. Mathematically, EMI is calculated as under: The EMI, usually, remains fixedįor the entire tenure of your loan, and it is to be repaid over the tenure of the loan on a monthly basis. Therefore, EMI = principal amount + interest paid on the personal loan. The Equated Monthly Instalment (or EMI) consists of the principal portion of the loan amount and the interest. Whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein. Neither Axis Bank nor any of its agents or licensors or groupĬompanies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Axis Bank does not undertake any liability or responsibility to User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/įinancial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. The use of any information set out is entirely at the User's own risk. Herein or on its completeness / accuracy.
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