PNB Personal Loan EMI Calculator

The loan EMI calculator is an online calculator where you must enter the amount of loan that you will borrow as well as other details. The calculator uses the following formula:

E = P x r x (1+r)^n/((1+r)^n-1)

Where, E is the EMI

P is the borrowed amount

r is the monthly rate of interest

n is the loan tenure (in months)

The calculator also uses processing fee for calculation of EMI. However, it differs from bank to bank depending on the rate being offered. The processing fee also changes anywhere in the range of 1% to 3%.

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FAQs on Punjab National Bank Personal Loan Calculator

• Is the EMI as shown in the loan calculator same as that PNB will allow me to pay?

  The EMI amount may sometimes vary from the calculation of the loan EMI calculator from the bank. The difference could be due to the change in loan processing fees and interest rates applied being different while actually taking the loan from the time of calculation.

• Is a personal loan EMI calculator more accurate than calculation in excel sheets?

  The online loan EMI calculator is a ready to use tool with instant access to output. In an excel sheet, you are required to formulate the calculation before using it.

• Where can I find an online personal loan EMI calculator to calculate EMIs for various loan tenure options from PNB?

  The BankBazaar Personal Loan EMI Calculator allows you to change various fields such as loan tenure to generate the EMI for each option.