This is a tool used to calculate the expected monthly repayment on a new loan. It is dependent on the personal loan amount applied for.
This method of interest calculation is called ‘Amortization’.
It is determined by the following aspects:
- Requested amount
- Interest rate
- No. of installments
- Payment start date
- Payment end date
Disclaimer: Owing to different factors such as interest rate, loan charges and loan period, calculations may not be exact.