Faircent Personal Loan EMI Calculator

Check the EMI for your Faircent Personal Loan by providing the Loan Amount, Interest Rate (per annum), and Loan Tenure (in months) details.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Want to apply for a Faircent personal loan? Checking the EMI for Faircent personal loan will give you a better understanding of the entire loan process. Faircent does not offer a Faircent personal loan EMI calculator on their official website yet. You can calculate your Faircent EMI payment by using our Buddy Loan EMI calculator.

Using an EMI calculator to estimate the EMI for your Faircent personal loan will help you better organise your finances, whether you're saving for a holiday, organising a wedding, or dealing with unforeseen bills!

EMI Calculation Formula

In order to understand your monthly repayment obligations, you must calculate the EMI for your Faircent personal loan. Planning your budget with the use of Buddy Loan EMI calculator will help you make sure you can fulfil your repayment obligations.

You can use the mathematical formula provided below to get the EMI for a Faircent personal loan

Formula: EMI = [P x R x (1+R)^N ] / [(1+R)^N - 1]

Where:

  • EMI = Equated Monthly Installment
  • P = Principal Loan Amount
  • R = Monthly Interest Rate
  • N = Loan Tenure in Months

For example, for a loan of ₹1,00,000 with an annual interest rate of 12% and a 5-year tenure (60 months) the EMI can be calculated as:

Here,

  • P = ₹1,00,000 (₹1 Lakh)
  • N = 60 Months
  • R = (12% / 12)

EMI = [1,00,000 x 0.01 x (1+0.01)^60 / [(1+0.01)^60-1]

EMI = ₹2,224

Therefore, the EMI for a ₹1,00,000 loan with a 5-year term (60 months) and a 12% annual interest rate is roughly ₹2,224.

Faircent EMI Calculation For Different Loan Amounts

Learn how different loan amounts will affect your monthly payments using the Faircent personal loan calculator. For a FlexSalary Personal Loan of Rs. 1,00,000 with an annual interest rate of 12% and payback terms ranging from 1 to 5 years, find the EMI calculations in the table below.

Loan Amounts EMI for 24 years (per month) EMI for 36 months (per month)
EMI for 1 Lakh Personal Loan ₹4,707 ₹3,321
EMI for 1.5 Lakh Personal Loan ₹7,061 ₹4,982
EMI for 2 Lakh Personal Loan ₹9,415 ₹6,643
EMI for 2.5 Lakh Personal Loan ₹11,768 ₹8,304
EMI for 3 Lakh Personal Loan ₹14,122 ₹9,964

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How Does Faircent Personal Loan Calculator Work?

Listed below are the steps to use this user-friendly calculator to determine the Faircent personal loan EMI:

Step 1: Input the desired principal amount.

Step 2: Specify the current interest rate for your loan.

Step 3: Pick the loan duration in months that aligns with your repayment preferences.

Step 4: Examine your calculated EMI to visualise your monthly repayment commitment.

Advantages of Using Buddy Loan EMI Calculator

There are many advantages of the Buddy Loan EMI Calculator, which makes loan planning easier for you. In addition to providing accurate calculations, making affordable loan selections and ensuring transparency now at your fingertips.

The Buddy Loan EMI calculator has the following advantages:

Effortless Time Savings: The Buddy Loan EMI calculator eliminates manual calculations, providing swift results with a few simple clicks.

Financial Understanding: Delve into a detailed breakdown of your monthly payments, interest commitments, and total repayment over your chosen loan duration for a thorough grasp of your finances.

Security and Transparency: Trust in the credibility of this tool, provided by a reputable financial institution, which prioritizes security and transparency when presenting your comprehensive repayment schedule.

Ensure Accuracy: Rely on the Buddy Loan EMI calculator's high precision, driven by intricate mathematical formulas, ensuring the correctness of the calculated EMI amount.

Versatile Application: Enjoy flexibility as the Buddy Loan EMI calculator accommodates a range of loan types, including personal loans, home loans, car loans, and education loans.

Informed Decision-Making: Use the calculator to make well-informed decisions about your loan. Compare different loan offers from various lenders or experiment with different loan terms to gauge their impact on your EMI effortlessly.

Factors Affecting Faircent Personal Loan EMI

Understanding the variables that affect your Faircent personal loan EMI helps you manage your loan successfully. Check out the crucial factors that affect your Faircent personal loan EMI:

Principal Amount: Your EMI depends on how much you borrow. More borrowed means higher EMI, less borrowed means lower EMI.

Loan Tenure: The loan duration matters. Longer terms mean lower EMIs but more interest paid overall. Shorter terms mean higher EMIs but lower total interest.

Interest Rate: The interest rate affects your EMI. Higher rates mean higher EMIs, while lower rates mean more affordable EMIs.

Credit Score: Your creditworthiness shapes the interest rate you get. A higher credit score often means a lower interest rate, resulting in more affordable EMIs.

Processing Fees and Charges: Extra fees from the bank can boost the total loan amount, which in turn affects your EMI.

Prepayment and Part-Payment: Opting to make early payments or partial payments on your loan can decrease the remaining principal, leading to lower future EMIs.

Ready to take the next step? Apply for a Personal loan now!

Frequently Asked Questions

The Faircent EMI Calculator is an online tool that helps you calculate the monthly installment amount (EMI) for your Faircent loan.

As Faircent does not provide EMI calculators of their own, you can use the Buddy Loan EMI calculator given above. It is accurate and easy to use.

To calculate EMI for Faircent personal loan accurately, you need to input the following information into the EMI Calculator: Loan amount, Interest rate, Loan tenure.

Yes, the Faircent EMI Calculator is reliable for accurate EMI calculations. It uses a mathematical formula to calculate EMIs, and the results are regularly verified by Faircent.

Yes, you can use the Buddy Loan EMI Calculator to calculate Faicent EMIs for different types of loans, such as personal loans, business loans, and education loans.

EMI calculators use the standard mathematical formula EMI = P x R x (1+R)^N / [((1+R)^N)-1] to calculate the EMIs.

You can use the Buddy Loan EMI Calculator as frequently as you need to plan and assess your loan payments. There are no restrictions on how many times you can use the calculator.

Yes, you can simply change the values of the loan amount, interest rate, or loan tenure in the calculator to see how the EMI amount changes.

No, the EMI calculations are not binding for loan approval. Faircent will consider other factors, such as your credit score and income, when determining your loan eligibility and EMI amount.

Usually, online EMI calculators do not have a print option. Instead, you can print out a screenshot of the calculator for your records.

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Please read the Terms & Conditions carefully as deemed & proceed at your own discretion.

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