Loan Calculator

The application provides calculators to the user, to get an indicative estimate of:

• Loan Installment Amount
• Loan Eligibility Amount

Through the;

• Loan Installment Calculator
• Eligibility Calculator

Calculation is done by the application and results are displayed to the user.

How to reach here:

Dashboard > Toggle menu > Accounts > Loans and Finances > Overview > Loan Installment Calculator

Loan Installment Calculator

Repayment of a loan includes both the repayment of the principal amount of the loan, and the interest. These two components, together add up to the loan installment amount, which is typically an equated amount paid monthly to the lender (bank).

Loan installment calculator is a simple calculator which calculates the installment value of the loan, for specific amount, tenure and rate of interest. It helps users to understand the monthly outlay, if they were to borrow a sum of money, for a specific time.

Field Description

Field Name	Description
Amount	Loan amount that you want to apply from the bank.
Tenure	Tenure of loan in terms of years.
Interest	Interest rate that bank will charge on the applied loan.
Installment Amount	Calculated monthly installment that the user will have to pay towards the loan (for the given Loan amount, Interest rate, & loan tenure).

• In the Amount field, click and drag for the desired loan amount.
• In the Tenure field, click and drag for the appropriate loan tenure .
• In the Interest field, click and drag for the interest rate.
• Click Calculate, to view the Installment Amount, which the user will have to pay regularly towards the loan (for the given Loan amount, Interest rate, & loan tenure).

Eligibility Calculator

Eligibility calculator enables users to understand the maximum amount of loan that they are eligible for, considering their average monthly income and expenditure. The calculator computes the eligible loan amount and average installment per month.

Loan Eligibility Amount calculation is performed by the application and results are displayed.

The eligibility is calculated on the basis of :

• Average Monthly Income
• Average Monthly Expenses
• Tenure of the loan
• Estimated rate of interest

Field Description

Field Name	Description
Average Monthly Income	Monthly income of the user on an average.
Average Monthly Expenses	Monthly expenses of the user on an average.
Tenure	Tenure of loan in terms of years.
Interest	Interest rate of the loan.
Eligible Amount	Eligible loan amount.
Average Installment	Displays the estimated monthly installment amount.

• In the Average Monthly Income field, click and drag for the monthly income.
• In the Average Monthly Expenses field, click and drag for the monthly expenses.
• In the Tenure (in Years) field, click and drag for the loan tenure of loan.
• In the Interest field, click and drag for the applicable rate of interest
• Click Calculate, to view the eligible loan amount and the average installment / month.

FAQs

As a corporate User, what are the loan accounts that I can view?

A Corporate User can view all the accounts that he has access to. This includes the accounts of his primary party as well as those of Linked parties.

Can I perform repayment of the Loan 24/7, on the Online Platform?

Financial Transactions, such as repayment of loan will be allowed within the business hours (or the working window of the transaction.

Can I access my loan account 24/7, on the Online Platform?

The user can access his loan account, at all times except during system or transaction blackout.

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