UAE Personal Loan Calculator

Calculate Your Personal Loan EMI Online

Personal Loan in UAE
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

Get personal loan at Lowest Interest Rate

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Get personal loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

A personal loan calculator helps you estimate your monthly instalments beforehand. Simply enter a few details like the loan amount, loan tenure, and interest rate, and get your result instantly. Reset the values to generate a new value to make an informed decision before starting an application!

What is Personal Loan EMI Calculator?

With a personal loan UAE calculator, you can determine your loan monthly instalments. This online tool is available for everyone for free. Most banks and other financial institutions have their personal loan UAE calculators to help you find the most suitable loan option for yourself. 

To calculate EMI personal loan, you just need to provide a few details and receive an auto-generated result within no time. Unlike manual calculations, a personal loan interest calculator saves you from estimating the monthly instalment using a formula. This makes online personal loan EMI calculators more reliable, efficient, and quick.

How Does the UAE Personal Loan Calculator Work?

Although you can use the online personal loan calculator to assess your monthly instalment, we have provided the formula for manual calculation below:

EMI= P*R*(1+R)^N/ [(1+R)^N-1], where:

  • P- Principal
  • R- Rate of Interest
  • N- Tenure of the Loan

Manual calculation increases the chance of numerical errors. On the other hand, online loan calculators provide you with accurate values (approximate values due to variations in interest rates) and save time.

 

 

How Does the Policybazaar UAE Personal Loan EMI Calculator Help You in Financial Planning?

Calculate EMI personal loan monthly instalment on our website’s personal loan calculator. Our calculator provides you with instant and automated results. The results are precise (final amount may vary due to the difference in interest rates).

Follow the steps below to use our calculator:

  • Step1: Navigate to the ‘Banking Products’ section on our homepage
  • Step2: Select ‘Personal Loan Calculator’.
  • Step3: Enter your loan amount, interest rate, and loan tenure.
  • Step4: The result will be automatically displayed instantly at the bottom of the calculator.

Benefits of Using a Personal Loan EMI Calculator

Given below are the top benefits of using a UAE personal loan calculator -

  • Quick Comparisons - Easily compare loan offers from various banks to find the best deal without the hassle of manual calculations.
  • Accurate Estimates - With a loan calculator UAE, get precise EMI amounts based on the loan amount, interest rate, and tenure. This way, you can avoid any unpleasant surprises when the instalment payment starts.
  • Budget Planning - Plan your monthly budget effectively by knowing your monthly instalments, helping you manage finances better.
  • Time-Saving - Instantly calculate monthly instalments without spending much time and effort.
  • User-Friendly - Simple and intuitive online tool that anyone can use, even if you're not a financial expert
  • Accessible Anytime - Available online, so you can use it anytime, anywhere, at your convenience

 

 

Which Factors Can Affect Your Personal Loan EMI?

While you can always get instant results with a personal loan calculator UAE, it’s also important to understand the top aspects highly influencing the monthly instalments of personal loans -

 

1.) Loan Amount -

The principal amount you borrow impacts your EMI. High loan amounts result in higher monthly instalments.

 

2.) Interest Rate -

Lower interest rates lead to smaller EMIs, while higher rates increase them. For instance, if your loan has a 3% interest rate v/s a 5% rate, your monthly payments will be significantly less at the lower rate.

 

3.) Loan Tenure -

A longer tenure spreads the repayment amount over more months, reducing the monthly instalments. On the contrary, a shorter tenure means higher monthly payments but less interest paid over time.

 

4.) Credit Score -

A good credit Score often qualifies you for better loan interest and terms, which results in lower monthly payments. So if your score is high, banks see you as a low-risk borrower and may offer you a lower interest rate.

 

5.) Income Stability -

A stable, higher income can lead to more favourable loan terms. This is because lenders view you as a less risky borrower.

 

 

Accuracy of Personal Loan Calculator UAE

Online personal loan UAE calculators are highly accurate for finding your monthly instalments. This is because they are automatic and use standard formulas to compute results based on the provided loan amount, interest rate, and tenure.

However, note that your actual monthly instalments may vary. This is because Dubai personal loan calculators don’t consider additional factors like processing fees, insurance, or changing interest rates. While it's a reliable tool for initial planning and comparison, it’s advisable to consult with the bank for a detailed breakdown for a complete understanding of all costs involved.

 

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