Personal Loan EMI Calculator, Online Monthly EMI
At Citibank, we understand that when it comes to availing loans, it is necessary to plan ahead of time. This is why our online bank loan calculator will help you plan your finances easily!
The Citibank loan calculator is very simple to use. Simply enter the desired loan amount, determine the applicable interest and monthly installments, and click “Calculate”.
The personal loan calculator will immediately calculate the estimated monthly installment you need to pay.
Knowing the exact figures will ensure that you will not take out much debt. Use our loan calculator to make well-informed lending decisions.
The installment amount reported to you through this loan calculator is a close approximation and may vary depending on the day the loan is booked.
Citibank terms and conditions apply, subject to change, and available upon request. For current terms and conditions, please visit our website.
Citibank, N.A. Makes no warranties and assumes no liability or responsibility in relation to the products and services provided by partners / other entities.
All offers are made on a best-effort basis and at the sole discretion of Citibank. By inquiring about our services, offers or products, you will authorize our representatives to contact you on your contact details including your telephone / mobile number.
Salary Transfer Loan
- Low rates starting from 8%
- Loan amount of up to 20 times of your salary
- Loan amount of up to AED 500,000
Personal Loan EMI Calculator -Online Monthly EMI 2020
Available repayment plans
|Est. AED 3,906.07/month|
for 48 months
Total payable: AED 187,491.24
|Est. AED 5,013.82/month|
for 36 months
Total payable: AED 180,497.47
|Est. AED 7,236.37/month|
for 24 months
Total payable: AED 173,672.8
|Est. AED 13,918.15/month|
for 12 months
Total payable: AED 167,017.78
personal loan without salary transfer
- Get up to AED 1,250 in noon e-vouchers
- 0% processing fees
- Get a decision in 10 minutes
- Interest rates from 14% p.a. on reducing balance
- No salary transfer to Citi required
- Minimum monthly Income: AED 10,000
- Maximum loan amount: AED 175,000
- For Welcome Offer Terms & Conditions,
Personal Loan EMI Calculator 2020
The personal loan calculator can give a brief view to help determine how the monthly payment and total cost will look over the life of a personal loan.
Since most personal loans come with fees and/or insurance, the final cost to them may be higher than actually advertised.
The calculator takes all these variables into consideration when determining the actual annual percentage rate, or APR, for a loan. Using this actual APR for loan comparison is likely to be more accurate.
What are personal loans?
Personal loans are loans with fixed-term, interest rates, and monthly repayment amounts over stipulated time.
Typical personal loans in the UAE range from $ 5,000 to $ 35,000 for 3 or 5 years.
They are not supported by collateral (such as a car or house, for example) specific to secured loans. Instead, lenders use credit scores, income, debt levels, and various other factors to determine when to grant a personal loan and at what interest rate.
Due to their unsecured nature, personal loans are typically packaged to reflect the high-risk lending at high-risk rates (as high as 25% or more).
Personal loan fee
In addition to the specific principal and interest payments made on any type of loan for personal loans, there are several fees to note.
- Origin Fee – Sometimes called an application fee, it helps cover the costs associated with processing applications. It usually ranges from 1% to 5% of the loan amount. Some lenders ask for a basic fee upfront while most cut fees after approval. For example, a $ 10,000 borrowing with a 3% origination fee would only net $ 9,700 to the borrower (repayment is still based on $ 10,000).
- Prepayment Fee – This charge is applicable only when a borrower pays off his personal loan or makes a premature payment. Personal loans with prepayment fees are less available nowadays.
- Late Payment Fees – Lenders may charge fees for paying too late. Avoid this by paying all dues on time. This can help contact lenders ahead of time if the payment cannot be made on the due date, as some are prepared to extend the deadline. This fee can be flat or assessed as a percentage of the payment depending on the lender.
Some lenders may ask borrowers to purchase personal loan insurance policies that cover events such as death, disability, or job loss. While this may be beneficial for some people, such insurance is not required by law.
Try to Avoid Fraudulent or Predatory Loans
Unfortunately, fraudulent or predatory lenders do exist. Firstly, it is unusual for a lender to extend an offer without first asking for credit history, and a lender doing so may be a telltale sign to avoid them.
Loans advertised through physical mail or by phone have a high chance of being predatory. The same is often said for auto title loans, cash advances, no-credit-check loans, and payday loans.
Generally, these loans come with very high-interest rates, exorbitant fees, and very short payback terms.
Personal Loan EMI Calculator,
Online Monthly EMI