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What Purpose Bandhan Bank Personal Loan Calculator Solves?

EMI Calculations can be a tiring task to undertake. People who hate calculations will have to take out a Sunday to get past this. Who has that kind of time. So wouldnu2019t it be magical if something or someone else does it for you. With internet and startup booms, convenience to customers has gone to a whole different level. Everycompany is trying to serve you better and make you do less. Who would have thought that you can a book a cab through apps and it will be right next to your door in no-time. If cabs can come to your place, why should you be calculating your EMI by yourself? This is why the Bandhan Bank Personal Loan Calculator was launched. It lets you calculate your EMI payments well-in advance without any difficulties. Letu2019s take a tour of some of the features and benefits that makes this calculator very convenient for you.

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What Purpose Bandhan Bank Personal Loan Calculator Solves?

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  1. What Purpose Bandhan Bank Personal Loan Calculator Solves?

  2. EMI Calculations can be a tiring task to undertake. People who hate calculations will have to take out a Sunday to get past this. Who has that kind of time. So wouldn’t it be magical if something or someone else does it for you. With internet and startup booms, convenience to customers has gone to a whole different level. Everycompany is trying to serve you better and make you do less. Who would have thought that you can a book a cab through apps and it will be right next to your door in no-time. If cabs can come to your place, why should you be calculating your EMI by yourself? This is why the Bandhan Bank Personal Loan Calculator was launched. It lets you calculate your EMI payments well-in advance without any difficulties. Let’s take a tour of some of the features and benefits that makes this calculator very convenient for you.

  3. Why Should You Use Bandhan Bank Personal Loan Calculator? Facilitates Planning: If you know the EMI value well-in-advance, at least you’ll be clear about how to plan your monthly expenses. Personal loan takes away 10-20% of your disposable income every month as EMI payment. Knowing the EMI will help you do a better evaluation of your needs and wants. During repayment of loans, you should always give preference to needs over wants. Servicing the debt is of prime importance.

  4. Easy to Use: Imagine calculating the EMI based on this one hell of a formula, EMI = [P x R x (1+R)^N]/[(1+R)^N-1], all by yourself. It’ll be so complicated and will lead to errors. With the EMI Calculator, it’s all easy. It works just like your normal calculator. This EMI calculator takes three factors into consideration to determine the EMI. These are - Loan Amount, Tenure of the Loan and Rate of Interest. All you have to do is just enter these three details and the EMI results will flash on your screen within milliseconds.

  5. Negotiation Power: When you’ve access to some kind of knowledge, don’t you feel confident and powerful? Similarly, knowing your EMI gives you clarity, it helps you negotiate better with Bandhan Bank. Knowing the EMI and other calculations makes you feel confident and you can bargain easily with lending institutions. Interest & Principal Ratio: Bandhan Bank Personal Loan EMI Calculator also shows how the personal loan progresses over time. How the ratio between the interest and principal amount change over time. Initially, the interest paid is higher than the principal amount. And as the loan closes in towards maturity, the principal amount is higher and the interest decreases.

  6. How to Use Bandhan Bank Personal Loan Calculator? Don’t worry, this is not like some other technology that will give you anxiety. Using the Bandhan Bank Personal Loan EMI Calculator is not some rocket science. Infact, there is no science involved. It’s easy-peasy. All you have to do is just fiddle around with three sliders. These three sliders is what constitutes the EMI - Interest Rate, Tenure and Loan Amount. Just move the slider or enter the loan amount you desire. Then, choose the interest rate you want from the bank. Lastly, enter the tenure you will be able to repay the loan. Hit enter, and the result will flash on your screen within milliseconds.

  7. You can use the personal loan EMI calculator on the Bandhan Bank website. Alternatively, you can use the personal loan EMI calculator on the website of some financial technology companies.

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