How Does The Standard Chartered Personal Loan EMI Calculator Work?

Personal loans help to finance any shortfalls they are experiencing in terms of buying a car, renovating their house, sending kids abroad for higher studies, vacation plans or meeting wedding expenses. Standard Chartered Bank Personal Loan is the bridge that you need in achieving your short term dreams or needs. It offers loan at interest rate as low as 11.99% per annum. Standard Chartered aims to ease off the burden from the shoulders of the customer and hence, it provides pocket friendly EMI of INR 2,224. With such a good personal loan package, Standard Chartered aims to provide you with a better tomorrow. Personal loan, if taken without any planning, can lead you towards a disastrous end where you might end up paying a lot more than you expected. Thus, it is necessary to know what you’re getting into. You should do a need evaluation to determine your loan amount and the tenure you’ll be comfortable to repay the loan in. In order to help you plan out your stuff, Standard Chartered Bank has developed the personal loan EMI calculator. Let’s find out the benefits of the EMI calculator and how it works:

What are the benefits of the Standard Chartered Personal Loan EMI calculator?
Easy to Use: This EMI calculator is customer-friendly and super easy to use. Infact, it’s easier than the normal calculator that we use.

Know your EMIs: It gives you a heads-up about your EMIs so that you can pay your monthly expenses accordingly. The EMIs are calculated in such a way that  the EMI payment are made up of just 10-20% of your salary. This is done so that the monthly installment is not much of a burden on you and you can keep living your life the normal way.

‘Approval In Principle’ Service: This service is provided by the EMI calculator to know whether you’re eligible for the loan or not. By just entering a few details about your income and your employer, you can find out the eligibility for the Standard Chartered Personal Loan. For using this service, you don’t need to submit any kind of documents.

Informs you about Processing Fees: Once the bank is certain about your eligibility criteria, it informs you about the processing fee that you’ll be paying to avail the Standard Chartered Personal Loan. The bank does this to keep everything transparent so that the customer doesn’t feel deceived.

How to use the Standard Chartered Personal Loan EMI calculator?
There are a couple of bars you need to adjust according to your needs in order to calculate your EMI for Standard Chartered personal loan. There are three sliders which you’ve to operate. First bar, is for the loan amount. Second, is where you put the interest rate that you expect the bank to give you and third, is the choice of tenure over which you’ll be able to repay the loan. Once you’ve entered all the three details, your results will be in front of your eyes within seconds. Wasn’t is very easy? We told you it’s easier than a normal calculator.