How to Use Bank of Maharashtra Personal Loan EMI calculator

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How to Use Bank of Maharashtra Personal Loan EMI
calculator
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What is EMI?

• Equated Monthly Installment - EMI for short is
  essentially a fixed amount of money that you have
  to regularly pay your lender in order to repay
  the loan.

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What is Personal Loan EMI Calculator?

• The personal loan EMI calculator is an excellent
  tool for determining your repayment capabilities
  and determining a loan amount that you are
  comfortable repaying.

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Bank of Maharashtra personal loan EMI calculator?

• Bank of Maharashtras personal loan EMI
  calculator is an online automatic tool to
  ascertain how much will be your EMI (Equated
  Monthly Installment) outgo.

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How to Use Bank of Maharashtra Personal Loan EMI
Calculator

• Login to official website www.bankofmaharashtra.in
  /
• Click calculators tab.

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• You will reach a page where you have the option
  to use different loan EMI calculators, i.e. home
  loan, personal loan, car loan etc.
• Click on the Personal Loan EMI calculator tab.

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How to Use Personal Loan EMI Calculator

• Enter the following information in the EMI
  calculator
• Principal (years)
• Interest rate(l loan amount you wish to avail
• Loan term(percentage)
• Then click Show EMI
• Use the slider to adjust the values in the EMI
  calculator tool. If you need to enter precise
  values, type the values directly.

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How EMI is Calculated?

• EMI is calculated using the mathematical formula,
• EMI P x R x (1R)N/(1R) (N-1),
• Where,
• EMI equated monthly installment
• P principal or the amount that is borrowed as a
  loan
• R rate of interest that is levied on the loan
  amount
• N tenure of repayment of loan

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Use of Bank of Maharashtra Personal Loan EMI
Calculator

• Anytime access
• Accurate results
• Saves you from time-consuming and complex
  calculations
• Helps you with financial planning process

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• Apply for Bank of Maharashtra personal loans
  online.
• For more details visit www.bankofmaharashtra.in/