Citibank Personal Loan Calculator
Calculate Your Personal Loan EMI Easily!
Minimum Salary 5000 AED
EMI Tenure up to 48 Months
Lowest Interest Rates
Get personal loan at Lowest Interest Rate
Whenever you wish to renovate your home, plan an international trip, manage a destination wedding, meet medical expenses, or sponsor your children’s overseas education, you can always use some extra funds to quickly fulfil these personal needs. In such cases, a personal loan could be an apt solution, with Citibank being one of the top providers for the same.
Citibank is an excellent and reliable financial institution to borrow funds to meet your immediate needs. However, once you have decided to take a Citibank personal loan, you may want to check the applicable monthly instalments for the personal loan. Keeping this need in mind, Citibank has designed a personal loan calculator that gives you an estimated monthly instalment payable within a few seconds.
In this article, we will discuss the Citibank personal loan calculator, its features and benefits, the factors impacting the results, and how you can utilise this tool to make an informed choice!
Citibank Personal Loan Calculator in UAE
Citibank personal loan calculator is an online personal loan calculator that can help you find out how much you will be required to pay in the form of monthly instalments for your Citibank personal loan. The Citibank personal loan calculator can be accessed on the official website of Citibank, with the calculator barely taking a few seconds to check the monthly instalments against the personal loan.
Some of the significant benefits of the Citibank personal loan calculator are listed below:
- You can quickly figure out the eligibility criteria and monthly instalments in less than a minute
- Citibank personal loan calculator results are accurate and quick. You can use this tool for various loan amounts, loan tenure, and interest rates and get accurate results each time.
- Citibank personal loan calculator handles complex calculations in just a few seconds, saving time and effort on the user’s part.
- You can quickly figure out which plan best suits your needs and budget. Citibank's personal loan calculator can help you decide the amount of personal loan you can take without comprising your daily needs and lifestyle.
- You can easily use the Citibank personal loan calculator online and get the results by just entering a few essential details of the loan.
How does the Citibank Personal Loan Calculator Function?
You can visit the official website of Citibank UAE and access the Citibank personal loan calculator. This calculator can be found in the ‘personal loan’ section of the website. You would then need to choose whether you are transferring your salary to Citibank. After that, you can enter the desired loan amount, set the applicable interest, and the number of monthly payments or the repayment tenure, and click on 'calculate'.
As soon as you hit the ‘calculate’ button, this calculator will automatically compute the monthly instalments that you would be required to pay for the loan. One of the most remarkable features of this calculator is that the monthly instalments will be calculated as per four different tenures - 12 months (1 year), 24 months (2 years), 36 months (3 years), and 48 months (4 years). This is immensely helpful for individuals looking for personal loans, as they can have a fair idea of how their loan may span out across different tenures, and which one of them is the best as per the instalment amount, interest amount, and more.
Factors Affecting the Calculation of the Citibank Personal Loan Monthly Instalments
Citibank personal loan calculator requires you to provide the details like the loan tenure, the loan amount, and the interest rates to calculate.
Let's have a look at how each variable affects the monthly instalments of the personal loan.
- Loan Amount - This is simply the amount that the applicant borrows from the bank. The lender here decides the maximum loan or finance amount based on the applicant's loan repayment capability and the eligibility criteria set by the lender. The loan amount is directly related to instalments - the higher the personal loan amount, the higher the monthly instalments.
- Loan Tenure - It is the period in which the borrower has to repay the personal loan. The duration of months has to be provided in Citibank personal loan calculator in months. For calculating the monthly instalment amount, the principal loan amount and interest are distributed into equal parts as per the number of months.As the loan repayment tenure increases, the personal loan monthly instalments decrease. However, it’s worth noting that the overall interest amount increases with an increase in the loan repayment tenure.
- Interest Rate - The interest rate levied on the finance amount provided by Citibank is based on several factors like income, credit Score, outstanding debts, and credit mix, which is the ratio between secured and unsecured credit.The higher the rate of interest, the higher the total interest amount would be. Consequently, with a higher interest rate, the applicable instalment amount would also be on a higher spectrum.
Policybazaar UAE Online Personal Loan Calculator
To simplify the process of finding the monthly instalment details for your personal loan in UAE, you can also head to the Policybazaar UAE website, get the results for your loan, and plan the budget accordingly.
Here are the steps to be followed to get the monthly instalments of the personal loan -
- Head to policybazaar.ae
- Go to the personal loan section by selecting the ‘Personal Loans in UAE’ option under the ‘Banking Products’ tab
- You will find the personal loan calculator on this page
- Enter the following information -
- The finance or loan amount
- Interest Rate
- Loan repayment period
The total interest amount, the monthly instalment, and the total payable amount (payable + interest) will quickly appear on the screen after you provide the details. The key benefit of this online personal loan calculator is that it provides you with accurate results in an instant!
The Bottom Line
Using the Citibank personal loan calculator saves time as well as the effort required for lengthy manual calculations. This simple tool helps you determine the instalment on the personal loan that you procure from the bank as well as the total interest amount. This information is crucial, as being aware of the monthly instalments beforehand can help you plan your finances conveniently without any hassles.
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