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Every year lots of people apply for a personal loan, but only a few of them know about the EMI calculator. This tool saves your time to calculate your EMIs conveniently. It is free and straightforward to use, but how about taking a personal loan in 2020.
Does this tool also prevalent in 2020? In this post, we have talked about personal loan EMI calculator 2020 and the ways to help you calculate monthly installments. But before we talk about the Allahabad Bank personal loan EMI calculator 2020, let’s understand more about Allahabad bank Personal Loan 2020.
Benefits of Allahabad Bank Personal Loan 2020
Attractive Interest Rates:
There is a clear difference between a personal loan and a right personal loan. Most people give preference to those lenders who offer a personal loan at a lower interest rate. This is the reason they don’t mind standing in the queue or don’t complain about the time taken for the application processing, approval, and loan disbursal. If you’re one of them who likes to borrow at a lower interest rate, then Allahabad Bank Personal Loan 2020 won’t disappoint you because its interest rate starts from 9.35% – 12.65%.
Lower Processing Fee:
This is the next step to make your loan cheaper. The processing fee is charged on the personal loan when the loan amount is disbursed in your account. Today, several Instant Personal loan app lends by charging a processing fee of up to 5% of the loan amount. However, if you’re taking a small amount to let’s say Rs 10,000 to Rs 20,000, it doesn’t affect much, but if the amount goes higher, then it can create a worry for the borrower. This is the reason people always opt for a personal loan lender who offers its loan at a low processing fee. If you’re a first-time borrower and not know much about Allahabad bank Personal Loan 2020, then you will be pleased to see that it provides personal loans by charging a lower amount as a processing fee of up to 1.22%.
Long Tenure:
Based upon your requirement, you may select an amount, but to repay that amount, you will need a longer repayment tenure. However, some lenders offer a loan tenure up to one year to repay an amount of Rs 1 lakh, and this can be an uncomfortable situation for many borrowers. So, instead of choosing shorter loan tenure, always go for a longer tenure, so that you can comfortably repay your loan. If you want to repay your loan conveniently, then you can opt for Allahabad bank Personal Loan 2020 because it offers a repayment tenure of 5 years.
Simple Eligibility Criteria:
There is no point in choosing a personal loan if you can’t get it on time. It becomes gettable when the eligibility criteria are relaxed, but some lenders tangle users in the complex eligibility criteria. But if you want to take Allahabad Bank Personal Loan 2020, then you can make it more comfortable because it has a simple eligibility criterion. Please take a look at the eligibility criteria of Allahabad bank Personal Loan 2020.
- The minimum gross monthly salary of the applicant should be Rs 20,000 or more.
- The applicant should be working in the organization for a period of a minimum of two years.
The Benefits of Allahabad Bank Personal Loan EMI Calculator 2020
As you know that this is a free tool, but you are not aware of the benefits of it, so take a look at some of the amazing benefits of it.
Help You Calculate Your EMIs:
This tool is free, and it helps you calculate your monthly installments in a convenient and straightforward way. By entering your loan information, you can see the results instantly, and according to that you can apply for a loan.
Easy to Use:
Not only is this tool free, but it is also easy to use. By filling loan amount, interest rate, and loan tenure, you can calculate your monthly EMIs. Once you enter these details, you can see various other information like the total amount including the interest rate. In this way, you can try different variations to make your final call.
Safe and Secure:
The personal loan EMI calculator 2020 is secure and straightforward. If you’re worried about the leaking of your personal information, then be relaxed because to use this tool, you don’t need to sign-up. You can use this device as many times as you wish without entering your personal information.
User-Friendly Interface:
Its interface is so simple and responsive that without the intervention of an expert, you can use a personal loan EMI calculator 2020. Further, the exact results are shown so that you can plan your borrowing and repayment.
Conclusion
Your choice of taking a personal loan can vary, but your decision to get it in your budget depends on your decision. You decide whether you’re going to take a personal loan from a random lender without comparing the interest rate or you want to own a personal loan at a cheaper interest rate by comparing various lenders and making full use of the EMI calculator.
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