Use Central Bank personal loan calculator device to compute your loan installments When you apply for a loan from any bank or NBFC they give you the loan amount at the applicable rate of interest. But how can you calculate the total payable interest of your loan installments? To estimate an approx. Installment of your borrowed amount you can use the central bank personal loan calculator. This a loan calculator device which is provided by the Central Bank Of India to resolve the issue of equated monthly loan installments (EMI) calculation. To know about the loan calculator benefits read the given article. What are the advantages of using the central bank personal loan calculator? The Central Bank Of India provide you personal loan at an interest rate of 10.85% to 14.35% and you can borrow a loan amount up to INR 500 lakh from the bank. It provides you a loan amount according to your repayment capacity and income and you can pay the loan amount in flexible tenure of 1 to 5 years. So, till now you know how much you can borrow? At what rates you are borrowing? But you don’t know how to pay the borrowed amount? You can pay the borrowed amount in EMI through auto-debit, ECS, PDCs, etc.but it will be easier for you if you know the EMI of your loan amount. Don’t worry because to estimate the EMI of your borrowed loan amount you can use the central bank personal loan calculator. It is an online tool which gives you the approx. EMI of your loan amount instantly. How can you use the central bank personal loan calculator? Just visit the Central Bank Of India official website and log in to your account if you are an existing customer. Then from the glossary select “ Loan Calculator “ after that, you just need to enter the loan details inside the central bank personal loan calculator such as principal amount (P), interest rate (R) and loan tenure (N) because the calculator generates your EMI using the formula[P x R x (1+R)^N]/[(1+R)^N-1]. To know better about the loan calculator suppose if you have borrowed a loan amount of INR 7 lakh at an interest rate of 11.20% on a 4 years tenure. At that time, you can use the central bank personal loan calculator as it will generate the total EMI of your loan amount instantly. And according to the calculator, your EMI would be INR 18,160. Central Bank Of India give you better loan services So, you can avail a personal loan from Central Bank Of India at an affordable rate of interest and fulfill your urgent money requirements whether for marriage expenses, education funding,
medical emergency, etc. The ​personal loan​ application process is easy, you just need to submit some important documents to the bank such as income proof, address proof and ID proof. You also get assistance from the bank during the loan process with the help of tools like central bank personal loan calculator. Visit your nearby bank branch or apply for the loan through Central Bank Of India internet banking.