Citibank personal loans can be a good choice to meet the urgent needs of extra cash. You can get a personal loan up to Rs. 30 lakh and repay the loan in EMI over the agreed loan repayment tenure. If you are wondering how much Equated Monthly Instalment (EMI) will be, you can use a personal loan EMI calculator to find out your Citibank EMI in advance.
The Citibank personal loan EMI calculator helps you compute your loan EMI with the interest due. It will help you plan your budget so that you will be able to repay the loan without any problem. The EMI calculator also helps you in calculating interest rate and tenure for repayment of your loan.
On the top of the official website of Citibank, you can click Calculators and then EMI Calculator from the dropdown list. Here are some simple steps to use Citibank personal loan EMI calculator:
Once you have selected all personal loan components, you will then be able to see a detailed breakdown of your EMI, total interest payable and total amount payable. You can see the amortization table which will help you view the detailed repayment schedule.
A general mathematical formula is used to calculate EMI on loans:
P x R x (1+R)^N] / [(1+R)^N-1]
A personal loan EMI is made of two main components: principal and interest.
Borrowers need to enter the following inputs into the personal loan EMI calculator to compute their EMI: