Interest Rate

What does it mean?

Interest rate is the percentage amount of charge applied to the principal amount by the lender, which means that the total money owed increases to principal + Interest percentage of the principal. The lender can be banks or any financial institutions. 

Bank charges can be fixed or variable, it depends on the type of the loan like mortgages, credit card bills or educational loans. 

Points to remember

  • Interest rates can often vary over a loan period and can also affect the loan. It is always advisable to read the terms and conditions carefully before application and monitor your interest rates.
  • Regularity in repayment majorly affects one’s credit score, so it is advisable to repay one’s loans on time.
Related Terms
Interest Rate
NACH
Credit Report
Collateral
Credit Line
Share us on:
Popular terms
EarlySalary: Your One-Click Solution For Instant Loans
A sudden need for a large amount of money or a loan can, of course, occur at any point in life, as many of us may now have experienced.
Looking for a Loan ?
Life is full of expenses - both essential and aspirational. Funding either (or both) of them should really not be an issue. […]

Personal Loan EMI Calculator

Skip the manual calculations. Use the EarlySalary EMI Calculator to accurately determine your repayment amounts, interest charges, and more.

EarlySalary's personal loan EMI calculator is your reliable tool to determine your loan EMI in just a few minutes and some simple steps. EarlySalary offers personal loan of up to Rs 5 lakhs with minimal documentation and quick processing. Coupled with interest rates as low as Rs 9/day, this is by far your most compelling credit option in the market. Calculate your monthly repayments based on your sanctioned loan amount and interest rates using this handy EMI calculator that's operate and easy to understand. With EarlySalary, you can even prepay your loan amount with no additional charges.

Your EMI Amount is

₹  

13,107

Loan Amount

145,000

Min

Max

₹8,000

₹10,00,000


Interest rate

14%

12

30


Select EMI option

12 Months

3

36

Months

Months