Axis Bank Loan EMI Calculator

Equated Monthly Installments (EMIs) serve as a structured repayment method financial institutions use for loans granted to borrowers.

EMIs break down the total loan amount into fixed, equal instalments, which the borrower must pay monthly throughout the loan tenure. Each EMI includes both principal and interest components, making loan repayments more manageable and accessible.

This repayment system applies to various types of loans, including personal, home, business, and car loans. The loan amount, repayment period, and interest rate determine the EMI amount. You can estimate your EMI using the Axis Bank Loan calculator.

A personal loan EMI calculator is a quick and hassle-free way to estimate your EMI outflow. Instead of spending time on manual calculations, this tool instantly provides accurate results, minimizing errors in complex computations. Its user-friendly interface lets you explore different loan amounts, interest rates, and tenures—helping you compare options and choose what best fits your financial needs.

An EMI calculator uses the following formula –

where

• P represents the principal amount or the loan amount
• R represents the interest rate
• N represents the repayment period in months

Example: Mr. B applies for a housing loan for Rs. 35 Lakh on the 1st of April at an interest rate of 8.9%. The repayment tenure of the loan is settled at 25 years or 300 months.

Therefore, EMI = {(35000000 * 0.089 * (1 + 0.089) ^ 300) / {(1 + 0.089) ^ (300 – 1)}

Or, EMI = Rs. 23,133.

You can calculate the same using an Axis EMI calculator.

Use the below formula to calculate personal loan EMIs:

Here

• EMI is the Equated Monthly Installment
• P is the Principal loan amount
• R is the Monthly interest rate
• n is the Loan tenure in months

Let us take an example to help you better understand the process of EMI calculation.

Suppose Rahul applies for a personal loan of Rs. 7,00,000 from Axis Bank, where the interest rate is 11.25%, and the tenure he chooses is 5 years. So, his payable EMIs will be determined in the following way:

• Principal (P) = Rs. 7 Lakh
• Interest Rate (R) = 0.1125/12 = 0.00937 per month
• No. of EMIs = 5 x 12 = 60

Applying the above formula, EMI amount = 7,00,000 x [{0.00937 x (1 + 0.00937) ^ 60} / {(1 + 0.00937) ^60 – 1}] = Rs. 15,307

For this example, you have to pay an EMI of Rs. 15,307 for 5 years or 60 months.

Axis Bank enhances India's credit market by offering loans with affordable rates, flexible tenures, and EMI options tailored to borrowers' convenience.

The Axis Bank loan calculator can offer significant advantages when availing a loan.

Axis Bank provides loans at an annual interest rate of 11.1%, though this rate is subject to change at the bank's discretion. The specific interest rate applicable to your loan is influenced by various factors, including your income, credit score, loan amount, and selected tenure.

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*applicable for all lenders other than Federal Bank